France values EDF minorities buyout at nearly $12 billion: sources

FILE PHOTO: The company logo for Electricite de France (EDF) is seen in Paris, France, March 2, 2021. REUTERS/Benoit Tessier

PARIS (Reuters) – France said buying out EDF’s minority shareholders would roughly cost it 10 billion euros ($11.87 billion), a move the government is mulling within the planned restructuring of the power group, two union sources told Reuters.

This restructuring, currently under discussion between Paris and the European Commission, would entail the creation of a holding company, EDF SA, that would be fully state-owned whereas the French government’s ownership of EDF is at present 83.7%

“We are told the state will invest 10 billion euros to buy back the shares held by minority shareholders in order for EDF SA to become 100% state-owned”, Sebastien Menesplier, executive of CGT union, told Reuters.

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