EDF Energies Nouvelles has completed the acquisition of a 67.2% stake in renewable energy developer Futuren.
Completion follows a successful employee consultation and clearance from the German competition authority.
EDF EN paid €1.15 per share, and also bought 96% of Futuren’s convertible bonds at an ex coupon price of €9.37.
Fady Khallouf will remain Futuren’s chief executive officer, but changes have been proposed for the Futuren board.
Board chairman Michel Meus and directors Fady Khallouf and Jérôme Louvet have resigned to be replaced by three new members proposed by EDF EN.
They are Bruno Fyot, who will be chairman, Denis Rouhier and Bénédicte Gendry.
Futuren’s shareholders will be asked to ratify the appointments and to approve the appointment of two further directors to be proposed by EDF EN at a general meeting of shareholders on 28 June.
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