Exxon vendrait Esso ??????????? (Securibourse)

par mareva , Barjac, mardi 06 février 2007, 17:15 (il y a 6507 jours)

http://www.thebusinessonline.co.uk/Document.aspx>id=161C5B33-A0AD-424C-A55E-BAB02776...

Exxon Mobil, the American oil giant, has begun talks to sell at least some of its French oil business in a deal worth up to E2bn ($2.6bn, £1.3bn). The plan comes as private equity scrambles to accumulate European refining assets which will transform the sector as oil companies exit.

A banking source has revealed that Exxon’s desire to sell is based on prices being driven down because of increased competition from hypermarkets like Carrefour and Auchan.

Exxon’s French business, called Esso Français, includes 700 service stations in prime locations on French motorways, a chemicals business and two refineries: the Fos-sur-mer refinery on the Mediterranean and the Port-Jérôme Gravenchon in Normandy, which is one of Europe’s most technically advanced plants.

Esso Français is part-listed on the Paris Bourse, with a market value of E2.1bn. The banking source said talks with Exxon were likely to include the disposal of the service stations as well as the Fos-sur-mer refinery. If Port-Jérôme Gravenchon is also sold the chemicals business, which is integrated with the refinery, will go too.
The suitors, predominantly private equity firms, are sure to include Switzerland’s Petroplus, the company which has been built up by Carlyle, the American private equity firm which now has a 20% stake in it. First Reserve is also likely to be a bidder as are PAI Partners, a French private equity group which has been reported to be in the bidding for Shell’s three French refineries, which were put up for sale last year.

Exxon is the latest among the oil majors aiming to take advantage of the sellers’ market for refineries to trim downstream operations in its least profitable markets. The Business was the first to reveal Royal Dutch Shell’s plans.

A spokesman for the company refused to comment.

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mareva