French utility group Electricité de France S.A. or EDF (EDFEF.PK) Friday announced disposal of its entire 1.6 percent non-strategic stake in U.S. utilities Exelon Corp. (EXC: Quote) for about $470 million at the end of 2012.
EDF noted that the proceeds of $470 million correspond to an average selling price of $34.70 per share or an 18.6 percent premium on Exelon’s latest closing share price of $29.26 as of January 10, 2013.
EDF is an integrated energy company, engaged in generation, transmission, distribution, supply, and trading of energies in France and internationally. EDF owns the country’s 58 working nuclear reactors.
Chicago, Illinois-headquartered Exelon is a utility services holding company, engaged in energy generation and distribution business.
In last November, EDF reported that its sales for the nine-month period were 51.97 billion euros, up from 47.15 billion euros in 2011.
In October 2012, the company had revealed its decision to recruit around 6000 people in 2013, including more than 1,700 engineers / managers to support its development and future challenges.
In Paris, EDF shares are currently trading at 13.56 euros, down 0.32 euros or 2.30 percent, on a volume of 1.24 million shares.
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by RTT Staff Writer
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