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France

France

EDF Renewables flotation rumours

Rumours have been circulating in the French press about the anticipated partial flotation on the stock market of EDF Energies Nouvelles, the dedicated renewables arm of state-run utility Eléctricité de France (EDF). Without citing its source, the financial daily La Tribune reports that EDF Energies Nouvelles has mandated Lazard Ixis and JP Morgan to manage the flotation on Euronext, to take place late 2006 or early 2007. Although the precise details have not yet been finalised, the banks estimate the value at around EUR 1 billion, according to La Tribune. Both EDF and EDF Energies Nouvelles say the flotation is just one of several options being discussed as to how to finance the development plans of EDF Energies Nouvelles. They maintain that no decision has yet been taken.

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