EDF will be 100% controlled by the State from June 8, announces Bruno Le Maire

The State will control “on June 8” 100% of EDF announced Tuesday the Minister of the Economy, Bruno Le Maire, on RTL. This control will take place after the renationalisation of the energy company, which was able to succeed despite the challenges of small shareholders. “On June 8, the State will have 100% control of EDF,” said the minister.

“This will allow us to carry out the construction program for six new EPRs (latest generation nuclear reactors, editor’s note) in the best possible conditions” and “reinforce the country’s energy independence”, he assured. “It also allows us to set clear requirements for EDF”, such as in particular the increase in the production of nuclear electricity, added the Minister of the Economy, at a time when Russian gas is lacking. All this must also lead to the “lowest possible price” for customers and “guarantee the unity of EDF”, he continued.

Months behind schedule

Until last year, the state owned 84% of EDF and the government announced in July 2022 its intention to regain full control of the group. The process took months behind the initial schedule, but in early May, the courts rejected the appeal of EDF’s small holders who hoped to obtain a better price for their shares, which enabled the public offer to acquisition (OPA) to continue.

The State currently holds “at least 98.04%” of the voting rights, according to a press release from the Financial Markets Authority (AMF) published on Tuesday. “The State today sent the AMF a request for the implementation of the compulsory withdrawal”, also announced the Ministry of the Economy, in order to force the holders of the remaining 2% to sell their shares.

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