Borealis, a provider of chemical and plastics solutions, has made a firm offer to Total for its entire 56.86% interest in Belgium's Rosier, listed on NYSE Euronext Brussels. Borealis is already active in nitrogen fertilizers in Central Europe as well as in France, following its acquisition of PEC-Rhin, today known as Borealis PEC-Rhin, in early 2012. Borealis has offered €200 per share for Total's majority interest.

This offer as well as Borealis' offer (described in a separate press release) to acquire all outstanding shares in France's GPN will now be presented to the employee representatives concerned, as part of the information and consultation procedures.

The proposed transaction is subject to the approval of the relevant authorities, in particular, the antitrust authorities in the countries concerned. The proposed acquisition of Rosier shares will furthermore only be completed if Borealis simultaneously acquires all outstanding shares of France's GPN.

In the event Borealis acquires the 56.86% interest in Rosier, it will be required to launch a mandatory public takeover bid for the remaining outstanding shares.