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EDF Energies Nouvelles starts exclusive talks with a view to acquiring a majority stake in FUTUREN

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EDF Energies Nouvelles has entered into exclusive negotiations with the controlling shareholders (including various funds managed by investment company Boussard & Gavaudan) of FUTUREN (FTRN), a company listed in Compartment B of Euronext Paris, with a view to acquiring their entire stake in the company.
FUTUREN is an onshore wind energy specialist with a presence in France, Germany, Morocco and Italy. FUTUREN owns 389 MW of gross wind energy capacity and operates 357 MW for third parties. The company is also developing wind energy projects representing over 168 MW in capacity.
The envisaged transaction is fully in line with EDF Group’s CAP 2030 strategy which aims at doubling its global capacity in renewable energy by 2030.

On April 24th, EDF Energies Nouvelles entered into a preliminary agreement opening a period of exclusive talks with FUTUREN’s controlling shareholders, which together own 61.6% of its ordinary shares and 96.0% of its convertible bonds (OCEANEs).

During this phase, EDF Energies Nouvelles’ works council will be consulted about the envisaged transaction before the decision of the Board of Directors.

Under the terms of the transaction, EDF Energies Nouvelles would acquire all of the holdings of the controlling shareholders for €1.15 per share (representing a premium of 38.6% to the closing share price on April 24th2017) and €9.37 per OCEANE convertible bond ex coupon (representing a premium of 39.7% to the closing share price on April 24th 2017).

FUTUREN has long been active in the European onshore wind energy market. It focuses on developing and operating facilities for its own account and for third parties. Its portfolio of projects under development in France and Morocco, together with its positions in Germany and Italy, makes it a major player in the renewable energy sector.

Antoine Cahuzac, EDF Group’s Senior Executive Vice President in Renewable Energies and Chief Executive Officer of EDF Energies Nouvelles, commented: “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.”

 Should the transaction go ahead, EDF Energies Nouvelles would launch a simplified public tender offer (OPAS) over all remaining FUTUREN’s shares and convertible bonds in accordance with the financial market regulations.

This transaction would be subject to clearance from the antitrust authorities.

About EDF Energies Nouvelles

EDF Energies Nouvelles is a market leader in renewable energy electricity, with a portfolio of more than 9 GW gross installed capacity focused for the most part on wind (onshore and offshore) and solar photovoltaic energy. Mostly operating in Europe and North America, EDF Energies Nouvelles continues its development by taking strong positions in promising emerging areas such as Brazil, Chile, China, India or South Africa. The Company is also present in other segments of the renewable energy market: marine energy, biomass and distributed energies. EDF Energies Nouvelles manages renewable energy projects’ development and construction as well as operation and maintenance for its own account and for third parties. EDF Energies Nouvelles is a subsidiary of the EDF Group dedicated to renewable energy.


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