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BP OFFER FOR BP FRANCE MINORITY

 LONDON, June 11 /PRNewswire/ -- The BP France Board of Directors met today and approved unanimously the offer by BP Europe Ltd - a wholly owned subsidiary of The British Petroleum Company p.l.c. (NYSE: BP) - for all of the BP France shares (listed on the monthly settlement market) which it does not already own. BP Europe Ltd currently owns 85.99 percent of the shares of BP France.
 The Board of BP France has also decided to recommend to shareholders to respond positively to the offer. The Directors present at the Board meeting also announced their intention to tender their own BP France shares to this offer. The proposed price of the offer is 120 French francs per share, excluding the proposed 1992 dividend, giving shareholders a premium of 43 percent on the last quoted price of June 9, 1993.
 The French Stock Exchange authorities are in the process of examining the information document submitted to them earlier today and should give a decision on the acceptability of the offer and the Information Memorandum by no later than Friday, June 18, 1993.
 -0- 6/11/93
 /EDITOR'S NOTE: According to regulation, further comment is not permissible until the French Stock Exchange authorities give their approval./
 /CONTACT: Ian Fowler, media, 216-586-4976, or Terry LaMore, investors, 216-586-6220, both of BP America/
 (BP)


CO: BP France; The British Petroleum Company p.l.c ST: IN: OIL SU: TNM

AR -- CL016 -- 1144 06/11/93 14:58 EST
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Publication:PR Newswire
Date:Jun 11, 1993
Words:244
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