Success of the simplified alternative public cash or exchange offer for EDF Energies Nouvelles: EDF holds 96.71 % of EDF Energies Nouvelles shares
Today, the Autorité des marchés financiers (AMF) published the results of the simplified alternative public cash or exchange offer made by EDF on EDF Energies Nouvelles. Over the course of the offer, which took place from 27 May to 16 June 2011, EDF acquired 26,120,745 shares of EDF Energies Nouvelles under the cash offer and 10,107,686 shares of EDF Energies Nouvelles under the exchange offer. Including the shares held before the offer began, the EDF group now holds 75,012,639 shares accounting for 96.71 % of EDF Energies Nouvelles share capital and voting rights on the basis of the company’s capital comprised of 77,568,416 shares representing an equal amount of voting rights.
The shares that were not tendered in the offer initiated by EDF accounting for less than 5% of the share capital and the voting rights of EDF Energies Nouvelles, EDF intends to request from the AMF a squeeze - out of EDF Energies Nouvelles shares within a 3-month timeframe starting at the end of the offer period, i.e. 16 September 2011 at the latest, for a compensation equal to the price of the simplified public cash offer, i.e. 40 euros per share of EDF Energies Nouvelles. The squeeze-out shall be subject to a prior compliance ruling by the AMF and a report from an independent expert must be obtained.
The AMF and Euronext will publish the timetable and the procedure for the squeeze-out. After the squeezeout has been carried out, EDF Energies Nouvelles will be delisted from Euronext Paris.
Henri Proglio, Chairman and CEO of EDF, said: “The success of this tender offer represents a new step forward in EDF’s commitment towards low-carbon energies. This operation will serve EDF’s ambition to reach a diversified energy mix by 2020, of which 25 % of renewable energies including hydro ”.
Analysts and investors
Phone: +33 (0) 1 40 42 40 38
Phone: +33 (0) 1 40 42 44 19