Back to the future. Seventeen years after its privatization, EDF will return to 100% in the public domain. The French state officially launched the process of renationalizing the EDF company on Tuesday, the Autorité des marchés financiers (AMF) said in a statement. An operation wanted by the government to engage France in the new nuclear.
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The State, which now owns 84% of EDF, has filed its “simplified” takeover bid (OPA) with the AMF. A first step in the process to remove EDF from the stock market. The operation, amounting to 9.7 billion euros, aims to buy back the 16% of the capital that he did not hold.
To nationalize the electricity giant, over-indebted, two options presented themselves to the government: the law of nationalization (used for the last time 40 years ago), or the OPA. The latter option was therefore chosen. The government will then appoint a new management whose mission will be to put the group back on track. At least 100 billion euros of investment will be necessary.
This return of the State to 100% in EDF was announced on July 6 by Prime Minister Elisabeth Borne, in her general policy speech. “This operation gives EDF the necessary means to accelerate the implementation of the new nuclear program wanted by the President of the Republic, and the deployment of renewable energies in France”, declared in July Bruno Le Maire, the Minister of Economy.