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EDF Purchases Stake in Electricite de Strasbourg

Sep 12, 2007 11:36 AM
EDF

Electricity de France and Elektrizitats-Gesellschaft Laufenburg have completed the sale of EGL's stake to EDF in Electricite de Strasbourg, the incumbent electricity distributor in the Alsace department in France.

Following this acquisition, EDF's stake in Electricite de Strasbourg will increase from 74.71% to 88.49%. EDF paid EGL E150 million for its stake, corresponding to a price of E153.20 per Electricite de Strasbourg share.

EDF remains the controlling shareholder and will continue to support the growth of Electricite de Strasbourg, which is the leading energy company in Alsace and distributes electricity of 408 towns and villages in the Bas-Rhin department, serving 80% of the local population.

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