EDF Energies Nouvelles to acquire 67.2 stake in FUTUREN

EDF Energies Nouvelles announced that has they reached a full and final agreement with the controlling shareholders of FUTUREN to buy a 67.2% stake in the company.

FUTUREN’s Board of Directors has unanimously agreed that the offer made by EDF Energies Nouvelles is in the best interests of the Company and its employees, as well as those of its shareholders and its bondholders.

Subject to this clearance and following the acquisition from the controlling shareholders of 61.6% of FUTUREN’s ordinary shares (at a unit price of €1.15) and 96.0% of its convertible bonds (at an ex coupon price of €9.37), EDF Energies Nouvelles will submit to the Financial Markets Authority (AMF).

EDF Group’s Senior Executive VP, Renewable Energies, Antoine Cahuzac said that they are delighted that FUTUREN’s Board of Directors has unanimously decided to support their offer in view of its quality and of its project. The coherence between EDF Energies Nouvelles’ and FUTUREN’s activities will help to strengthen EDF Group’s major strategic goals in renewable energy.

FUTUREN’s CEO, Fady Khallouf said that following its major transformation over the past six years, FUTUREN has become a major integrated and profitable industrial operator. The offer, made by EDF Energies Nouvelles, a specialist in renewable energies with a long-term vision, fully acknowledges this success while foreseeing the growth momentum already built up.

Image Source: EDF Energies Nouvelles