Energia
EDF : EDF announces reaching a key milestone in the sale process of its stake in Dunkirk LNG terminal
Following a competitive auction process launched early 2018, the EDF Group announces it has entered into exclusive negotiations with two groups of investors for the disposal of its 65.01% interest in the share capital of Dunkerque LNG, owner and operator of the liquefied natural gas (LNG) terminal of Dunkirk.
On the one hand, a consortium composed of Fluxys, AXA Investment Managers - Real Assets, on behalf of clients, and Crédit Agricole Assurances has committed to acquire a stake of 31%; on the other hand, a consortium of Korean investors led by IPM Group (comprised of InfraPartners Management Korea Co. Ltd. in Seoul and InfraPartners Management LLP in London) in collaboration with Samsung Asset Management Co., Ltd and composed of Samsung Securities Co. Ltd., IBK Securities Co. Ltd. and Hanwha Investment & Securities Co. Ltd. has committed to acquire a stake of 34.01%.
Across prices paid by the two consortia, the average enterprise value for the entire stake amounts to c. €2.4 billion.
The transaction will allow current 25% shareholder Fluxys, with the support of Axa Investment Managers - Real Assets and Crédit Agricole Assurances, to take control and consolidate Dunkerque LNG in line with its global growth strategy in gas infrastructures. Fluxys' expertise in the gas business and in the management of LNG terminals will benefit Dunkerque LNG and ensure industrial continuity and strong reliability of the terminal.
This transaction also illustrates the attractiveness of Dunkirk LNG terminal for foreign financial investors. The quality of the terminal's design, the strength of the business and the positive prospects for the LNG market in Europe make it a compelling investment case.
EDF, as a client of Dunkerque LNG, remains engaged in the long term with the terminal, which will continue serving its gas strategy.
The Board of Directors of EDF has approved the transaction. The final documentation shall be signed in the coming days and closing is expected for the second half of 2018, once required regulatory approvals have been granted by the French authorities.
:
, said:
:
A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy. The Group is involved in supplying energy and services to approximately 35.1 million customers, of which 26.5 million in France. The Group generated consolidated sales of €70 billion in 2017. EDF is listed on the Paris Stock Exchange.
2321 Rosecrans Avenue. Suite 2200
90245 El Segundo Stati Uniti