Exxon Mobil in Talks to Sell Majority Stake in Esso SAF

Published 22 hours agoXOM

Exxon Mobil in Talks to Sell Majority Stake in Esso SAF

Exxon Mobil has embarked on exclusive negotiations with North Atlantic France SAS to divest its 82.89% stake in Esso Société Anonyme Française (Esso SAF). The proposed sale values the shares at €149.19 each before distributions, or €32.83 per share after distributions. According to Reuters, the completion of this transaction is anticipated in the final quarter of 2025.

This move comes as part of a broader strategy by Exxon Mobil to withdraw from the French energy market. In aligning with these efforts, the company has previously sold its Fos-sur-Mer refinery in France to a group led by Trafigura in November 2024. These transactions underscore Exxon Mobil's significant repositioning of its assets and interests within the region.

The decision to sell its stake in Esso SAF represents a substantial shift for Exxon Mobil as it continues to realign its global portfolio. Official statements have emphasized the strategic review of assets to optimize value and sustain future growth. As such, these recent divestments are indicative of a focused realignment within the broader context of Exxon's corporate objectives.

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