FACTBOX: French power group EDF's main international assets
PARIS |
PARIS (Reuters) - France's EDF could unveil a 12 billion pound ($23.87 billion) bid for British Energy BGY.L before the end of the week, according to industry sources , marking a key step in the power group's plans to expand abroad.
Europe's biggest utility by market capitalization has named Britain, Spain and Belgium as key targets of expansion.
Following is a summary of EDF's main businesses outside of France. International activities generated 46 percent of the state-controlled group's total revenues in 2007.
BRITAIN
EDF Energy is a wholly owned subsidiary, which serves 5.5 million retail customers in southeast England and Greater London. EDF Chief Executive Pierre Gadonneix has said he wants to develop four new-generation nuclear power plants in Britain.
EDF made a quarter of its total 2007 sales in Britain.
GERMANY
EDF has a 45 percent stake in Energie Baden-Wuerttemberg (EnBW) (EBKG.DE), the country's third-largest energy provider.
Earlier this month, EnBW agreed to buy a quarter of its peer EWE for 2 billion euros ($3.2 billion) in the biggest asset sale in the sector in Germany in five years.
ITALY
EDF took joint control of Edison (EDN.MI) -- Italy's second largest electricity company and third largest gas player -- with AEM Milan in 2005.
BELGIUM
EDF Belgium is a wholly owned subsidiary.
EDF has tried and failed to buy Suez's 57 percent stake in Distrigas and Gaz de France's 25.5 percent holding in electricity company SPE.
SPAIN
EDF has admitted holding discussions with Iberdrola's (IBE.MC) shareholder ACS (ACS.MC) on a possible takeover, but faces strong opposition from Iberdrola's management.
SLOVAKIA
EDF owns 49 percent of electricity distribution and supply company Stredoslovenska Energetika (SSE). The Slovak state owns the remaining 51 percent.
AUSTRIA
EDF owns 25 percent of the Estag utility via its investment vehicle SIA, in which GDF Suez (GSZ.PA) also has a minority stake. In April, EDF denied being in talks with Austrian authorities to sell its interest despite a vote by a regional parliament calling EDF to do so.
UNITED STATES
EDF and Constellation Energy CEG.N set up a joint-venture in July 2007 to develop nuclear power plants in North America.
CHINA
EDF says it is the leading foreign investor in power generation in China, through its investments in companies operating coal-fired power plants featuring an installed capacity of 3,720 MW.
(Reporting by Marie Maitre; editing by Elaine Hardcastle)
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