On 12 November 2009, the European Commission approved the transaction by which EDF will acquire Centrica’s 100% interest in Segebel, which owns 51% of SPE
- By Christopher Smith -
Approval comes at the end of phase 1 of the procedure, in return for commitments from EDF to dispose of one of the two combined cycle gas projects it is developing in Belgium. EDF has also agreed to dispose of its other combined cycle gas project at a later date, but only if it decides not to develop this project.
The European Commission’s approval marks a major milestone in plans to acquire SPE, which should be finalised by the end of November 2009. The decision is also the final stage before the definitive acquisition by Centrica of 20% of Lake Acquisitions, the holding company for the British Energy acquisition as well as the 20% interest in the EDF project company set up to construct new nuclear power stations in the United Kingdom.
The EDF Group, one of the leaders in the energy market in Europe, is an integrated energy company active in all businesses: generation, transmission, distribution, energy supply and trading. The Group is the leading electricity producer in Europe. In France, it has mainly nuclear and hydraulic production facilities where 95% of the electricity output involves no CO2 emissions. EDF’s transport and distribution subsidiaries in France operate 1,274,000 km of low and medium voltage overhead and underground electricity lines and around 100,000 km of high and very high voltage networks. The Group is involved in supplying energy and services to more than 38 million customers around the world, including more than 28 million in France. The Group generated consolidated sales of € 64.3 billion in 2008, of which 47% in Europe excluding France. EDF is listed on the Paris Stock Exchange and is a member of the CAC 40 index.