EDF seals British Energy deal

Article reports that EDF were to announce on the 24 September 2008 that they would take the lead role in the development of nuclear power in Britain with the £12.4bn agreed takeover of British Energy, the nuclear generator. EDF would also sign a memorandum of understanding for Centrica, the owner of British Gas, to take a 25 per cent stake in British Energy.

EDF's Press Release on the 24 September 2008 said: EDF has announced an offer for British Energy Group Plc. The bid has the support of the British Energy board. This is an exciting opportunity for EDF Group, EDF Energy and British Energy. The acquisition of British Energy will add significantly to EDF’s established world-class capability in nuclear engineering, safety management, design, construction and operations.

EDF: Press Release, 24.9.08: EDF makes offer for British Energy Group Plc http://www.edfenergy.com/media-centre/press-news/edf-makes-offer-for-british-energy-group-plc.shtml

British Energy: Home Page http://www.british-energy.com/

Website: BizzEnergy http://www.bizzenergy.com/

ESO: Background information: EDF set to finalise sweetened £12bn bid for British Energy http://www.europeansources.info/record/edf-set-to-finalise-sweetened-12bn-bid-for-british-energy/

Centrica: Press Release, 24.9.08: Discussions between Centrica and Electricité de France in relation to British Energy http://www.centrica.co.uk/index.asp?pageid=39&newsid=1646

BBC News, 24.9.08: EDF agrees to buy British Energy http://news.bbc.co.uk/1/hi/business/7632853.stm

France24, 24.9.08: British Energy to accept new EDF takeover bid http://www.france24.com/en/20080924-edf-british-energy-takeover-bid-france-united-kingdom&navi=MONDE

Website: E4B http://www.electricity4business.co.uk/

United Kingdom: Department for Business, Enterprise and Regulatory Reform: News, 24.9.08: Government welcomes EDF's £12.5 billion take over offer for British Energy and investment plan to secure UK energy supplies http://www.wired-gov.net/wg/wg-news-1.nsf/0/B1B7E4793CCFF6D1802574CE0024305D?OpenDocument

Nuclear Decommissioning Authority: Homepage http://www.nda.gov.uk/

The Economist, No.8599, 27.9.08: EDF and British Energy. Nuclear renaissance? http://www.economist.com/world/britain/displaystory.cfm?story_id=12305861

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