PARIS, Dec. 3 (Chinese media) -- French electricity company EDF said Wednesday it has decided to offer 4.5 billion U.S. dollars to buy half of the nuclear assets of U.S. wholesale power generator Constellation Energy Group.
"EDF proposes to acquire 50 percent of the nuclear activities of Constellation for 4.5 billion dollars," said the state-controlled power company in a statement.
"It would bring long-term resources to Constellation," EDF Chief Executive Pierre Gadonneix said.
EDF's offer would value the whole of Constellation Energy at 52dollars per share, which is "clearly better" than a rival takeover proposal by Warren Buffett's MidAmerican Energy Holdings Co., which is offering 26.5 dollars per share for the whole of Constellation, said Gadonneix.
EDF's offer includes a 1-billion-dollar cash injection in Constellation. The company also proposed to purchase non-nuclear activities such as gas, oil and coal-generation operations of Constellation for up to 2 billion dollars.
Gadonneix said that the offer is aimed at consolidating EDF's role in developing new nuclear power generating system in the United States and expanding its global strategy further.
The EDF already owns 9.5 percent of Constellation stock.
Shares in EDF on Wednesday went down over 6 percent following the announcement. Its shares have declined nearly 50 percent so far this year.
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