| Press release 11 May 2017 | |
Put option agreement with PGE on EDF Polska's cogeneration and power generation assets
EDF Group received on May 11, 2017 a unilateral put option agreement from PGE Polska Grupa Energetyczna SA (a company controlled by the Polish State and the main electricity producer in Poland), according to which the latter commits to buy all of EDF Polska assets (cogeneration and electricity generation).
This put option agreement submitted by PGE is the outcome of the negotiations initiated on January 2017 with a consortium of Polish companies.
This transaction has been presented to the EDF Group employees representative bodies in accordance with the Group social guidelines, and the execution of the agreements shall be submitted shortly for approval to EDF's board of directors. The closing of the transaction may occur during the second semester 2017, after obtaining the required regulatory approvals, in particular the prior authorization from the Polish competition authority and the approval from the Polish government.
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 37.1 million customers, of which 26.2 million in France. The Group generated consolidated sales of €71 billion in 2016. EDF is listed on the Paris Stock Exchange.
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