EDF: towards a delisting?
(CercleFinance.com) - According to Bloomberg, the French government, which owns 83.
7% of EDF's capital, may be considering buying back the minority stakes in what would be "the first step in a corporate restructuring to address the challenge of replacing the country's nuclear-power backbone".
According to Bloomberg, the State has asked EDF to study a change in its structure for the formulation of proposals by July. The idea would be to delist EDF and then split it into two entities, with nuclear power on one side and the rest of its activities on the other - particularly renewable energies.
With a valuation of approximately seven billion euros, the minority shares in EDF could be repurchased for about eight billion euros, in order to take into account the premium that a takeover bid usually offers. This cost that could be partially amortised by the State by opening the capital of the second part of the two aforementioned companies.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
7% of EDF's capital, may be considering buying back the minority stakes in what would be "the first step in a corporate restructuring to address the challenge of replacing the country's nuclear-power backbone".
According to Bloomberg, the State has asked EDF to study a change in its structure for the formulation of proposals by July. The idea would be to delist EDF and then split it into two entities, with nuclear power on one side and the rest of its activities on the other - particularly renewable energies.
With a valuation of approximately seven billion euros, the minority shares in EDF could be repurchased for about eight billion euros, in order to take into account the premium that a takeover bid usually offers. This cost that could be partially amortised by the State by opening the capital of the second part of the two aforementioned companies.
Copyright (c) 2019 CercleFinance.com. All rights reserved.