Total has acquired Saft, according to a source passage describing the company's history. The passage states that the acquisition took place in 2016 and describes Saft as a batteries business. The verified purchase consideration for the transaction was €1,061,635,957.
The same source places the Saft deal within a period it labels the company's early pivot to new energy, covering 2011 to 2020. It lists the Saft acquisition alongside other transactions from that period, including the purchase of a 60% stake in US solar company SunPower in 2011, Maersk Oil in 2017, Direct Énergie in 2018 and Anadarko's African assets in 2019. The source characterises the SunPower and Saft purchases as having been made years before the energy transition became a buzzword, and says that head start is why the company is now the most diversified oil major.
The source notes that Patrick Pouyanné took over as CEO in 2014 following the death of Christophe de Margerie in a plane crash in Moscow, and that he still leads the company. It also records that shareholders approved the name TotalEnergies in May 2021.
No further details of the Saft transaction, including its closing date, financing or advisers, are provided in the source material.