A”mandatory withdrawal”. This is exactly what awaits the 2% of EDF shareholders who have not yet sold their shares as part of the full renationalization of the company. This will happen on June 8, which will allow the state to own 100% of the capital.
OUR “forced withdrawal” The stock exchange will take place on that day at a price net of all costs of 12 euros per share and will refer to 91,454,896 EDF shares, i.e. 2.19% of the capital and 1.99% of the voting rights of the company, the report said. Autorité des Marchés financiers (AMF) in a press release. Thus ends the EDF renationalization process, almost a year after the announcement of the operation, a series of twists and turns adorned with appeals from small shareholders challenging the €12 price offered to buy back their shares.
Recovery ready for nuclear power restart
The takeover of the French electrician, estimated at 9.7 billion euros, was announced in July 2022 by Prime Minister Elisabeth Born. With this takeover, the state, which until now owned 84% of the company, wanted to regain control, in particular to quickly revive nuclear power by funding the renewal of an aging fleet and the construction of at least six new reactors.
In early May, the courts rejected an appeal by small EDF holders who had hoped to get a better price for their shares. The plaintiffs demanded at least 15 euros. At the opening of the capital in 2005, the share was sold at 32 euros, with a 20% discount for employees, at 25.60 euros.
- The state will control EDF 100%: a good deal for individuals?
After the Court of Appeal dismissed this claim, the Fund Communes des Placement in Action (FCPE), which represents about 100,000 EDF employees or retirees who have invested their money in the group, announced the decision to file a compensation claim before the Council of State. This price premium action will not affect the end of the takeover offer and will be triggered after the squeeze is realized.
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