EDF Energies Nouvelles has announced the results of its Simplified Public Tender Offer for FUTUREN (FTRN).
Since filing the offer in June, EDF Energies Nouvelles has been able to buy up the majority of the securities available in the market. According to the results published by the Autorité des Marchés Financiers (AMF) in July, EDF Energies Nouvelles holds approximately 240 million shares, representing 87.5% of FUTUREN’s share capital and 87.2% of its voting rights, plus 105,601 convertible bonds representing 62.7% of those still outstanding.
The Simplified Public Tender Offer followed on from the acquisition by EDF Energies Nouvelles in June 2017 of 67.2% of FUTUREN’s share capital from the previous group of majority shareholders on the same terms, i.e. €1.15 (US$1.35) per share and €9.37 (US$11.03) per convertible bond. The offer will not be reopened.
The transaction forms part of the EDF Group’s CAP 2030 strategy of doubling its renewable electricity capacity in France and abroad by 2030.
Antoine Cahuzac, EDF Group’s Senior Executive Vice President, Renewable Energies and Chief Executive Officer of EDF Energies Nouvelles, commented:
“We are very pleased with these results and wish to thank all the shareholders and bondholders who contributed to the success of the transaction by tendering their securities. The acquisition on the market of a majority stake in FUTUREN represents a major step in our strategy and we will now focus on developing ties between EDF Energies Nouvelles and FUTUREN.”
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