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EDF Energies Nouvelles in advanced talks to acquire Futuren

CTBR Staff Writer Published 25 April 2017

French renewable energy company, EDF Energies Nouvelles is looking to acquire Futuren, an independent wind energy developer and operator, which is also based in France.

In this regard, EDF Energies Nouvelles has launched exclusive talks with the controlling shareholders of Futuren which includes several funds managed by Boussard & Gavaudan.

EDF Energies Nouvelles has offered to purchase each of the shares of the controlling stakeholders at €1.15 per share and €9.37 per OCEANE convertible bond ex coupon they own in Futuren. The controlling stakeholders put together own 61.6% stake in the company.

EDF Energies Nouvelles stated that it would later initiate a simplified public tender offer (OPAS) over all remaining shares and convertible bonds of Futuren in compliance with the financial market regulations, should the transaction move forward.

The transaction will also depend on the approval of antitrust authorities, said EDF Energies Nouvelles.

EDF Group renewable energies senior executive vice president and EDF Energies Nouvelles CEO Antoine Cahuzac said: “EDF Energies Nouvelles has a great opportunity to acquire a significant player in the European onshore wind energy market which is positioned in countries with considerable strategic appeal.

“The project would bring us one step closer towards achieving the EDF Group’s ambitious goals under its CAP 2030 strategy in France and abroad.”

Futuren, which is an onshore wind energy specialist, has operations in Germany, Morocco and Italy apart from its home country. It owns a wind energy portfolio of 389MW and operates a portfolio of 357MW for third party companies.

Its development pipeline has over 168MW of wind energy projects.

EDF said that the acquisition is in line with its CAP 2030 strategy, under which it aims to double its global capacity in renewable energy by 2030.