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France Offers Big Premium in Quest for Swift EDF Nationalization

  • Investors are offered 12 euros a share by the government
  • EDF’s problems have exacerbated Europe’s energy crisis
Updated on

The French government offered a premium of more than 50% to minority investors in Electricite de France SA, seeking a swift nationalization of the troubled company that is the backbone of the country’s energy policy. 

The 9.7 billion-euro ($9.9 billion) offer, which at 12 euros a share was at the upper end of expectations, is intended to bring the nuclear power generator back into full state ownership as soon as mid-October, allowing the government to push ahead with long-term investments in carbon-free energy.