EDF buys Italian electricity firm Edison

French energy supplier EDF will bump its stake in Edison, Italy’s second largest electricity firm up to 80.7% subject to approval by Italian public authority CONSOB and the firms’ corporate […]

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By Vicky Ellis

French energy supplier EDF will bump its stake in Edison, Italy’s second largest electricity firm up to 80.7% subject to approval by Italian public authority CONSOB and the firms’ corporate bodies.

The deal is in tandem with another Italian utility buying up Edison’s stake in electricity firm Edipower for €600million as well as another €200million stake from Swiss energy provider Alpiq.

Under the new plans, Edison is set to supply a minimum of 50% of Edipower’s gas needs for the next 6 years.

EDF said in a statement the deals will “contribute to the recovery of the growth of the Italian economy, generating value for all the country and providing a new impetus to the Italian economic fabric.”