The State will control "June 8" 100% of EDF announced Tuesday the Minister of the Economy, Bruno Le Maire, on RTL. This control will take place at the end of the renationalization of the energy company, which was able to succeed despite the protests of small shareholders. "On June 8, the state will have 100% control of EDF," the minister said.

"This will allow us to carry out in the best possible conditions the construction program of six new EPR (latest generation nuclear reactors, N.D.L.R.)" and "strengthens the energy independence of the country," he said. "It also allows us to set clear requirements for EDF," such as increasing nuclear electricity production, added the economy minister, at a time when Russian gas is lacking. All this must also lead to the "lowest possible price" for customers and "guarantee the unity of EDF", he continued.

Months behind schedule

The state owned 84% of EDF until last year and the government announced in July 2022 its intention to regain full control of the group. The process was months behind schedule, but in early May, the court rejected the appeal of small EDF holders who hoped to obtain a better price for their shares, which allowed the takeover bid to continue.

The State currently holds "at least 98.04%" of voting rights, according to a statement from the Autorité des marchés financiers (AMF) published on Tuesday. "The State has today sent the AMF a request for the implementation of the squeeze-out," the Ministry of the Economy also announced, in order to force the holders of the remaining 2% to sell their shares.

  • Economy
  • EDF
  • Electricity
  • Nationalization
  • Bruno Le Maire