EDF Rises on Report of State Buyout
15 Avril 2019 - 12:33PM
Dow Jones News
By Nathan Allen
Shares in Electricite de France SA (EDF.FR) were trading higher
Monday morning on a report that France's government is considering
buying out minority shareholders at a hefty premium to the
company's current valuation.
French newspaper Le Parisien reported that the French
government, which holds an 84% stake in EDF, is considering paying
between 6 billion euros and 8 billion euros ($6.78 billion-$9.04
billion) to repurchase the equity owned by minorities.
The midpoint of the proposed range would be equivalent to a
roughly 20% premium on Friday's closing price, investment bank
Jefferies said.
At 0954 GMT shares were trading 3.3% higher at EUR12.52.
According to Le Parisien, EDF's strategy committee is due to
meet late May to review options, and the plan will be presented to
management and unions in June.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
April 15, 2019 06:18 ET (10:18 GMT)
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