The Autorité des marchés financiers said on Tuesday that the French state had officially launched the process of renationalizing EDF on Tuesday. This operation wanted by the government to engage France in the new nuclear aims to buy back the 16% of the capital that it did not hold.
The French State officially launched on Tuesday the process of renationalization of the company EDF, indicated in a press release the Authority of the financial markets (AMF), an operation wanted by the government to engage France in the new nuclear. The State, which now owns 84% of EDF, has filed its draft “simplified” takeover bid (OPA) with the AMF, a first step in the process of removing EDF from the stock market. . The operation, valued at 9.7 billion euros, aims to buy back the 16% of the capital that he did not hold.
A redemption of each share at a price of 12 euros
The government had formalized in mid-July its desire to control 100% of the French energy company. The State has undertaken to buy back each share at a price of 12 euros. This renationalization has a very symbolic significance for the State which plans to build six new generation EPR reactors with an option for eight others, and while a new CEO has been chosen by Emmanuel Macron to lead and turn the group around, Luc Rémont , whose appointment still needs to be approved by Parliament.
The renationalisation aims to send a signal of confidence and allow the group, whose debt will reach the record amount of 60 billion euros at the end of the year, to better finance itself, indicated this summer a source close to the file. . The State-shareholder hopes to obtain, at the end of the OPA, 90% of the capital, threshold from which a compulsory withdrawal procedure from the Stock Exchange can be launched to obtain securities.
Source: Europe1
I have been working as a journalist for over 10 years. In that time, I have covered the news from all corners of the world, and written about everything from politics to business.I’m now a full-time author, and my work can be found at Global happenings. My aim is to bring you up-to-date news and views on global affairs, in a format that is easy to read and understand.
