EDF Asked for EU2 Billion in EnBW Arbitration, JUVE Reports

Baden-Wuerttemberg, the German state that is EnBW Energie Baden-Wuerttemberg AG (EBK)’s main shareholder, is seeking 2 billion euros ($2.5 billion) in damages in an arbitration against Electricite de France SA, JUVE reported.

The state claims it paid too much when it acquired a 45 percent stake in EnBW from EDF for 4.7 billion euros, the legal magazine said on its website, citing a filing in the arbitration proceedings.

Simon Veser, a spokesman for Baden-Wuerttemberg’s finance ministry, declined to comment. An EDF press officer wasn’t immediately available when Bloomberg News called the company for comment.

To contact the reporter on this story: Karin Matussek in Berlin at kmatussek@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@Bloomberg.net.

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