The French authorities have launched the process of nationalization of the energy company EDF

PARIS, 4 Oct – PRIME. The French government on Tuesday officially launched the process of nationalization of the largest energy company EDF, AFP reported, citing a communiqué from the French financial regulator (AMF).

“The French state on Tuesday officially launched the process of nationalization of the EDF corporation,” the agency said.

At the moment, the state controls 84% ​​of the corporation’s shares. On Tuesday, a public offer was placed to purchase the remaining 16% of the company’s shares. The deal will amount to 9.7 billion euros, the agency said.

In July, the French government announced plans to nationalize energy corporation EDF, which ended the first half of the year with record losses. According to the corporation’s report, they amounted to 5.3 billion euros.

In August, EDF filed an 8.34 billion euro lawsuit in the French Supreme Court seeking to compensate for losses due to the sale of electricity at low prices amid government restrictions on the cost of electricity.

Last week it became known that Luc Remont, who served as head of international operations at Schneider Electric, will become the new head of the corporation, who will replace Jean-Bernard Levy from this post.