Saverex, the holding company of the family of Nicolas Saverys, plans to take Exmar private as part of a deal worth 366.8 million euros ($397 million).
According to a statement by Euronext Brussels-listed Exmar on Monday, the firm has been informed that Saverex intends to launch a voluntary and conditional public takeover bid for all shares and share options issued by Exmar not already owned by it or persons affiliated with it.
Also, the bid would be made at a price of 12.10 euros ($13.11) per share, and would be paid in cash.
The price per share represents a premium of 24.74 percent to the closing price of Exmar as at March 31, 2023.
Saverex currently owns 26,899,431 shares in Exmar (or 45.21 percent), while Exmar owns 2,273,263 treasury shares (or 3.82 percent).
Exmar’s executive chairman Nicolas Saverys owns 7,924 shares in Exmar (or 0.01 percent).
The bid would thus relate to the remaining 30,319,382 shares (or 50.96 percent) in Exmar, the firm said.
Exmar said that its board of directors has unanimously resolved to support and recommend the bid.
The company operates a fleet of LPG carriers and owns the 26,000-cbm barge-based FSRU Eemshaven LNG, which serves Gasunie’s facility in Eemshaven.
Last year, Exmar sold its Tango FLNG to Eni and entered into a deal for the 2002-built steam turbine LNG carrier, Excalibur.
