EDF is seen near a £12 billion deal to buy British Energy Group

iht.com     Jul 25, 2008            

Électricité de France is close to buying British Energy Group, Britain's largest producer of nuclear power, for as much as £12 billion to gain control over its eight atomic plants and land where more plants could be built, a person briefed on the takeover plan said Friday. An agreement on the deal, worth the equivalent of $23.9 billion, might be reached as early as this coming week, said the person, who declined to be identified because the discussions were not public. A takeover would end five months of negotiations about the future of British Energy, in which the government holds a 35.8 percent stake and stock market investors the rest. The deal would leave the company, the supplier of about 17 percent of Britain's electricity, in foreign hands. A deal would bring EDF, the world's biggest nuclear power company, closer to... [read full story]                    

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