LNG

April 18 (LNGJ) - French energy major Total, which has widespread LNG assets, has signed an agreement for the proposed acquisition of Direct Energie to accelerate its ambitions to enter natural gas and electricity distribution in France and Belgium. Total will acquire just over 74 percent of Direct Energie for around 1.40 billion euros ($1.73Bln). Total’s offer represents a 30 percent premium over the last closing price of the target company on the Euronext Paris stock exchange. “Through this transaction, Total is actively pursuing its development in electricity and gas generation and distribution in France and Belgium,” stated Patrick Pouyanne, Chairman and Chief Executive of Total. “This friendly takeover is part of the Group’s strategy to expand along the entire gas-electricity value chain and to develop low-carbon energies, in line with our ambition to become the responsible energy major,” added Pouyanne.