In accordance with the agreement concluded on May 10 with the concert of majority shareholders of FUTUREN (FTRN), EDF Energies Nouvelles acquired, on June 9, 67.2% of the company.
This definitive acquisition follows, on the one hand, the positive outcome of the applicable procedures in social matters, and, on the other hand, the approval received from the German competition authority (Bundeskartellamt). EDF Energies Nouvelles thus acquired from the concert of shareholders 61.6% of ordinary shares (at a unit price of €1.15) and 96.0% of convertible bonds (at a unit price of €9.37 ex-coupon) of FUTUREN.
Noting the change in control of the company, the board of directors of FUTUREN which met on June 9 took note of the resignations from their position as director of Mr. Michel Meus, until then chairman of the board, of Mr. Fady Khallouf and Mr. Jérôme Louvet, and provided for their replacement by co-opting three directors on the proposal of EDF Energies Nouvelles: Mr. Bruno Fyot, who will also assume the role of chairman of the board, Mr. Denis Rouhier and Ms. Bénédicte Gendry. It will be proposed to the general meeting of shareholders of FUTUREN, convened on June 28, to ratify these co-optations and to decide on the appointment of two new directors on the proposal of EDF Energies Nouvelles. Mr. Fady Khallouf also retains his position as general director of FUTUREN.
In accordance with applicable laws and regulations, EDF Energies Nouvelles will soon file with the Financial Markets Authority (AMF) a draft Simplified Public Purchase Offer (OPAS) covering all of the remaining shares and bonds of FUTUREN, at a price of €1.15 per share and €9.37 detached coupon per convertible bond.
The draft OPAS will be submitted to the AMF for review. Its conditions will be evaluated by the Finexsi firm, an independent expert, appointed on May 16, 2017 by the board of directors of FUTUREN in accordance with applicable regulations.
It is recalled that the board of directors of FUTUREN had considered, unanimously, that the offer proposed by EDF Energies Nouvelles was in the best interest of the company and its employees, as well as, subject to the opinion which will be rendered by Finexsi, its shareholders and its bondholders.
About EDF Energies Nouvelles
EDF Energies Nouvelles is an international leader in renewable electricity with an installed capacity of more than 9 GW gross worldwide. Its development is mainly focused on wind power and photovoltaic solar power. Mainly present in Europe and North America, EDF EN continues its development by taking a position in new promising markets and in new countries such as South Africa, Brazil, Chile, China and India. The Company, which is strongly positioned in the offshore wind sector, is also present in other renewable energy sectors: marine energies, biogas and biomass as well as in distributed energies. EDF EN ensures the development and construction of renewable energy projects as well as their operation and maintenance, for its own account and on behalf of third parties. EDF Energies Nouvelles is the subsidiary of the EDF group dedicated to the development of renewable energies.
Press Contacts
Manon of Cassini-Hérail ▪ Tel: +33 {0} 1.40.90.48.22 ▪ e-mail: manon.decassini-herail@edf-en.com
Clarisse Placidoux ▪ Tel: +33 {0} 1.40.90.49.46 ▪ e-mail: clarisse.placidoux@edf-en.com