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the full renationalization process officially launched

This is a first step in the process which aims to withdraw EDF from the stock market. The French State officially launched, Tuesday, October 4, the process of renationalization of the EDF company, announced in a press release the Financial Markets Authority (AMF) – an operation wanted by the government to revive nuclear power after a year difficult for the group.

The State, which today owns 84% ​​of EDF, has filed its draft public purchase offer (OPA) “simplified” with the AMF. The operation, amounting to 9.7 billion euros, aims to buy back from the other shareholders the 16% of the capital that it does not hold. 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.

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Send a signal of trust

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 to allow the group, whose debt will reach the record amount of 60 billion euros at the end of the year, to better finance itself, a source close to said this summer. folder. The State shareholder hopes to obtain, at the end of the OPA, 90% of the capital, the threshold from which a procedure of compulsory withdrawal from the Stock Exchange can be launched to obtain securities.

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The World with AFP

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