Paris court expected to rule on minority shareholders' challenge to EDF buyout process on May 2

The government had aimed to fully nationalise the nuclear group last autumn, but the move is taking longer than planned as minority shareholders contest the 12 euro-per-share offer price in court. The government is stumping up nearly 10 billion euros ($10.9 billion) to take full control of the debt-laden group as part of a long-term nuclear energy strategy that will include building at least six new reactors in the coming decades.

A Paris court is expected to rule on May 2 on an appeal filed by a group of minority shareholders against the French state's full nationalisation of the utility EDF, said the head of a group representing EDF staff shareholders. The government had aimed to fully nationalise the nuclear group last autumn, but the move is taking longer than planned as minority shareholders contest the 12 euro-per-share offer price in court.

The government is stumping up nearly 10 billion euros ($10.9 billion) to take full control of the debt-laden group as part of a long-term nuclear energy strategy that will include building at least six new reactors in the coming decades. Last month, EDF boss Luc Remont vowed he would put EDF back on track, after it slumped to a record net lossof 17.9 billion euros in 2022, hammered by an unprecedented number of outages at its reactors.

($1 = 0.9196 euros)

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