2nd Aug 2006 15:55
Total S.A.02 August 2006 Total and Santander Sign Agreement To Implement Arbitration Award Provisions Concerning Cepsa Paris, August 2, 2006 - Total and Banco Santander Central Hispano (Santander)have signed an agreement to implement the provisions of the partial award madeon March 24, 2006 by the Nether1ands Arbitration Institute, which adjudicatedtheir dispute concerning Cepsa. Under the agreement, the shares held by investment vehicle Somaen Dos which aredue to Total are returned effective today. Total now directly owns 44.5% ofCepsa's share capital. Total and Santander have terminated their shareholderagreements concerning Cepsa. In addition, subject to the approval of the European Commission, Santander willtransfer to Total 4.35% of Cepsa's share capital at a price of €4.54 per share.Once this transaction has been completed, the parties will instruct thearbitrators to terminate the arbitration proceedings. Both transactions have been approved by Spanish market regulator ComisionNacional del Mercado de Valores (CNMV), which has confirmed that Total is notrequired to make a takeover bid for Cepsa. Total is very satisfied with this agreement, which consolidates its position asthe core shareholder in Cepsa, whose growth it will continue to support. Total is one of the world's major oil and gas groups, with activities in morethan 130 countries. Its 95,000 employees put their expertise to work in everypart of the industry - exploration and production of oil and natural gas,refining and marketing, gas trading and electricity. Total is working to keepthe world supplied with energy, both today and tomorrow. The Group is also afirst rank player in chemicals. www.total.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TTA.LBanco Santander