EDF Energies Nouvelles signs a firm agreement for the acquisition of a majority share of FUTUREN

A firm and definitive agreement has been concluded between EDF Energies Nouvelles and the concert of majority shareholders of FUTUREN (FTRN) with a view to acquiring 67.2% of the company. This agreement, unanimously supported by the FUTUREN board of directors, follows a competitive process and then exclusive negotiations begun on April 24 between EDF Energies Nouvelles and the concert of majority shareholders, as well as the procedures applicable in social matters carried out by the two companies.

The conditions discussed when entering the exclusive negotiation phase are confirmed in this agreement. The transaction remains subject to approval by the Bundeskartellamt, the German competition authority.

Subject to the latter and after the acquisition from the concert of shareholders of 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 coupon detached) from FUTUREN, EDF Energies Nouvelles will file with the Financial Markets Authority a draft simplified public purchase offer (OPAS) relating to all of the remaining shares and convertible bonds of FUTUREN.

The board of directors of FUTUREN 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 of an expert independent advisor who will be mandated between now and the launch of the offer, its shareholders and its bondholders.

FUTUREN, a company specializing in onshore wind power, present in France, Germany, Italy and Morocco, focuses on development (more than 188 MW of projects to date), operation for own account (389 MW of gross capacity) and operation on behalf of third parties (357 MW of capacity under management).

When signing the agreement, Antoine Cahuzac, Executive Director of the EDF Group in charge of the Renewable Energy Sector, declared: “We welcome the unanimous support of the FUTUREN board of directors, sensitive to the quality of the offer and the project it supports. There is consistency between the activities of EDF Energies Nouvelles and those of FUTUREN which will reinforce the strong strategic ambitions of the EDF Group in renewable energies. »

Fady Khallouf, Managing Director of FUTUREN added: “After the profound transformation carried out over the last six years, FUTUREN has become an integrated and profitable industrial platform. The offer from EDF Energies Nouvelles, an industrialist with a long-term vision and a specialist in renewable energies, fully recognizes this success while planning future developments in the dynamic already underway. »