The French government is offering 12 euros per share to take full control of EDF in a nearly $10 billion buyout offer that gives it a free hand to run the group as it contends with a European energy crisis
A flag with the company logo of Electricite de France and a French flag fly next to the EDF power plant in Bouchain, near Valenciennes, France, September 29, 2021. REUTERS/Pascal Rossignol/File PhotoPARIS, July 19 - France's government is offering 12 euros per share to take full control of EDF
Shares in the group, which resumed trading on Tuesday after a one-week suspension pending details of the government buyout plan, jumped 15% to 11.70 euros by 0714 GMT.The state already owns 84% of EDF, which has been grappling with unplanned outages at its nuclear fleet, delays and cost overruns in building new reactors, and power tariff caps imposed by the government to shield French consumers from soaring electricity prices.
Sources had told Reuters last week the government would offer close to 10 billion euros to buy the 16% of EDF it did not already own, once taking into account outstanding bonds and a premium for minority shareholders.
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