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2022-10-07 10:05:00

FRANCE TAKEOVER EDF €9.7 BLN

FRANCE TAKEOVER EDF €9.7 BLN

ENERDATA6 Oct 2022 - The French government has initiated the process to take full ownership of the state-owner power utility EDF. Indeed, the country, which intends to acquire 15.9% of the company it does not already own, notified the French Financial Markets Authority (AMF) of its public takeover bid, offering €12 per share. The offer is expected to be launched on the market by 10 November 2022. To take the group private, the French government will spend €9.7bn, including transaction costs.

EDF’s capital was opened to private investors via an initial public offering in 2005 at Euronext Paris. In February 2022, France unveiled its energy strategy to 2030, including a recovery plan for nuclear power in the country. As part of the plan, France is expected to build 6 new next-generation EPRs (European Pressured Reactors II) and to launch studies for the construction of 8 additional EPRs as well as SMRs (Small Modular Reactors) to reach 25 GW of new nuclear capacity by 2050.

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Tags: FRANCE, ENERGY, EDF