The French government has unveiled a €9.7bn tender offer to acquire 15.9% of the French power utility EDF it does not already own. The country will offer EDF's minority shareholders €12 per share, a 53% premium to the closing price on 5 July 2022, the day before the government announced its intention to fully nationalise the group. The government, which already owns 84.1% of the utility, is planning to seal the deal by September 2022.
EDF’s capital was opened to private investors via an initial public offering in 2005 at Euronext Paris. In February 2022, France unveiled its energy strategy to 2030, including a recovery plan for nuclear power in the country. As part of the plan, France is expected to build 6 new next-generation EPRs (European Pressured Reactors II) and to launch studies for the construction of 8 additional EPRs as well as SMRs (Small Modular Reactors) to reach 25 GW of new nuclear capacity by 2050.
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