By Cristina Roca 
 

Electricite de France SA (EDF.FR) said Thursday that it has bought e2m, a German electricity-trading company specialized in local flexibility and renewable energy.

The French energy company didn't disclose financial details, and said the acquisition should close by the end of the third quarter of this year.

The acquisition is part of EDF's strategy to speed up its development of renewable energy and storage." With this acquisition, EDF becomes a major player in the direct marketing and local flexibility markets in Germany," EDF said.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

(END) Dow Jones Newswires

June 13, 2019 12:12 ET (16:12 GMT)