Tuesday, November 20, 2018

EDF Sells Stake Dunkirk LNG Terminal

November 4, 2018

Image: Dunkerque LNG

European electric utility company Électricité de France (EDF) group has sold its stake in the Dunkirk  liquefied natural gas (LNG) terminal, after obtained the requisite regulatory approvals.

According to a press release from the  integrated energy company the modalities set out in the press release published on 29 June remain unchanged, the transaction having been made on the basis of an average enterprise value of EUR2.4 billion for the Dunkerque LNG company.

The disposal will contribute to the reduction of the EDF Group’s net financial debt, by EUR1.5 billion.

With the transaction, the Group has now realised EUR9.6 billion of its targeted EUR10 billion asset disposal plan. The objective of finalising the plan by the end of 2018 is confirmed.

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.

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