EnergyWatch

France offers to pay EUR 9.7bn fo EDF nationalization

Paris makes a bid worth nearly ten billion euros to nationalize the power utility.

Photo: Benoit Tessier/Reuters/Ritzau Scanpix

The French government offered to pay about EUR 9.7bn to fully nationalize Électricité de France SA as it seeks to resolve problems at the power generator that are exacerbating Europe’s energy crisis.

The state will offer EUR 12 a share to acquire the 16% of EDF it doesn’t already own, the French Finance Ministry said in a statement on Tuesday. That’s a premium of 53% to the closing value of EUR 7.84 for EDF shares on July 5, the day before French Prime Minister Elisabeth Borne announced the nationalization.

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