EDF line up controlling stake at Edison

Electricite de France (EDF) has completed a €700 million ($897 million) preliminary deal to win control of Edison SpA, which will give the company a controlling stake of 80.7 per cent in the Italian utility.

Upon completion, EDF will get nearly 8000 MW of generation capacity in Edison.

The transaction depends on EDF getting Italian market regulator Consob to agree that a mandatory public tender offer for Edison doesn't exceed 84 eurocents per share.

Industrial Info reports that EDF has been trying to take full control of Edison for more than a year to gain access to natural gas resources and markets in southeastern Europe and the Mediterranean basin.

For more power business news



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...