News

Dow Jones Newswires: French government to pay $9.8 billion to take EDF private

0

The French government said Tuesday that it plans to pay about 9.7 billion euros ($9.84 billion) to take Electricite de France SA private.

The French state plans to launch a public tender offer of EUR12 a share for all the shares it doesn’t already own in the energy company
EDF,
+14.91%
,
representing about 15.9% of its capital, the Finance Ministry said. It will also buy other instruments, it said.

The offer price represents a significant premium compared with EDF shares’ closing price of EUR8.48 on July 4, the day before the French state made public its plans to take the company private.

The ministry expects that the offer will be filed to the regulator by early September.

Write to Cristina Roca at cristina.roca@wsj.com

The Wall Street Journal: Genesis listed as Three Arrows Capital’s biggest creditor, lent $2.4 billion

Previous article

The dollar pauses below the two-decade peak

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News