French regulator approves state bid to renationalise EDF

• 2 years ago (2022-11-23)
• David Flin

Europe 1089 Nuclear 659

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France’s financial markets regulator has approved the French Government’s plan to fully control heavily indebted EDF , which it intends to lead efforts to relaunch the nuclear power industry in the country.

The French Government, which already own 84 per cent of EDF, filed a takeover offer with the regulator in October to acquire the remaining capital at €12 per share. The Financial Markets Authority ( AMF ) said on 22 November that the offer complied with stock market rules. The acquisition is expected to be completed by 8 December, at a total cost of €9.7 billion.

The French government wants to build six new-generation nuclear reactors, with an option to acquire eight more. The full acquisition of EDF is intended to send a signal of confidence.