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ExxonMobil Stock Drops 1.36% Amid 37th Ranked Trading Volume as it Sells French Subsidiary
Generated by AI AgentAinvest Volume Radar
Wednesday, May 28, 2025 7:40 pm ET1min read
On May 28, 2025, ExxonMobil (XOM) experienced a 1.36% decline in its stock price, with a trading volume of 14.61 billion, ranking 37th in the day's market activity.
ExxonMobil has entered into exclusive negotiations to sell its 82.89% stake in its French subsidiary,
SAF, to North France SAS. This move is part of ExxonMobil's strategy to streamline its global operations and focus on core assets. The deal, valued at approximately 149.19 euros per share before distributions, includes ExxonMobil's holdings in ExsonMobil Chemical France SAS. The transaction is expected to close by the end of 2025, with a mandatory tender offer for the remaining shares anticipated in early 2026.ExxonMobil will continue to supply crude and license the Esso brand under long-term agreements, ensuring job security for approximately 1,350 French employees. North Atlantic France SAS has expressed its commitment to strengthening Gravenchon's role as a core energy hub in France. This strategic shift aligns with ExxonMobil's broader efforts to optimize its global footprint and North Atlantic's expansion plans across the Atlantic.
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