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EDF to protect minority shareholders in restructuring - CEO

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EDF to protect minority shareholders in restructuring - CEO
FILE PHOTO: French state-controlled utility EDF Chief Executive Jean-Bernard Levy attends a news conference to present EDF's 2018 annual results at their headquarters in Paris, France, February 15, 2019. REUTERS/Charles Platiau   -   Copyright  CHARLES PLATIAU(Reuters)
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PARIS (Reuters) – French state-controlled utility EDF will protect its minority shareholders in any possible restructuring of its capital, CEO Jean-Bernard Levy told shareholders on Thursday.

The French government last year asked Levy to make proposals by the end of 2019 about restructuring EDF, in order to make its nuclear power generation activity more independent of the rest of its business.

“I will personally guarantee the equitable treatment of all shareholders … their legitimate interests will be taken into account in any financial operations that may be decided,” Levy told shareholders at their annual meeting.

In an interview with Le Figaro newspaper, Levy also said the planned restructuring could lead to the creation of two balance sheets within the same company, one to invest in renewable energy, and the other to invest in nuclear.

(Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta)

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