EDF completes acquisition of Italy’s Edison

May 24, 2012 | Mergers, Acquisitions & JVs, North Sea & Western Europe

EDF_Energy

French power group EDF said it had taken control of Edison after completing the purchase of shareholder Delmi’s holding in the Italian utility for 784 million euros ($986.55 million).

EDF’s equity in Edison’s ordinary shares has increased from approximately 50 percent to slightly more than 80 percent following the transaction, details of which had already been announced.

“EDF is now in sole control of Edison,” EDF said in a statement on Thursday.

EDF also confirmed that it would launch a mandatory tender offer for the benefit of the holders of the 19.36 percent of Edison’s ordinary shares that EDF does not own at 0.89 euros per ordinary share. ($1 = 0.7947 euros)