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France

France

EDF completes buyout of EDF Energies Nouvelles

FRANCE: French energy giant EDF has completed the buyout of its renewables subsidiary EDF Energies Nouvelles (EDF EN).

EDF launched its friendly takeover of the 50% stake it did not already own in April. The group offered €40 per share, representing a premium of 10.4% or the opportunity to swap 13 EDF shares for 11 of EDF EN's.

When the offer closed in June, EDF had acquired 96.7% of EDF EN's capital, despite complaints from some minority shareholders that the price was too low.

EDF has now exercised its right to buy the remaining shares and delisted EDF EN from the Euronext exchange.

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