The French government stated on Tuesday that will buy the remaining 15.9% of shares of energy company Electricite de France S.A. (EDF) at €12 per share, a 53% premium, for a total value of €9.7 billion. The transaction is expected to be filed by September.
The state already owns 83.89% of EDF's stock. It revealed plans to completely nationalize it earlier this month, as Prime Minister Elisabeth Borne argued the takeover "will enable EDF to strengthen its capacity to carry out ambitious and essential projects for our energy future as soon as possible."
EDF's shares soared 15.31% after the announcement.
