Today, 24 September 2008, 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.
This acquisition is totally aligned with our Group vision – to be the ‘European leader of tomorrow’s energies’ and our EDF Energy mission ‘to bring sustainable energy solutions home to everyone’.
We are delighted that the British Energy Board is unanimously recommending our offer to its shareholders. EDF and British Energy complement each other perfectly and this is an exciting announcement for us both. For EDF, this is a historic milestone in our strategic development plans in Europe and enables the EDF Group to develop significantly in the UK, one of its key markets. For British Energy, it places it at the vanguard of New Nuclear Build in the UK and at the centre of the global nuclear renaissance.
There is a great fit between our two companies. Combining the people, knowledge, skills, experience and assets of EDF and British Energy will set the standard for the delivery of safe, economic, low carbon generation both in Britain and around the world. We look forward to welcoming British Energy’s management and employees into the Enlarged Group.
For UK business and retail customers, this paves the way for huge investment in secure, economic energy supplies. This investment will help secure affordable energy for our customers for the long term. It is a responsible step towards addressing their concerns about wholesale energy prices and dwindling world fossil fuel supplies.
In the UK, EDF Energy is committed to reducing the carbon intensity of its generation by 60 per cent. by 2020 by investing in a diverse energy mix including nuclear and renewables. Together with British Energy, we will build on that commitment through helping customers save energy, cut carbon emissions and safeguard the needs of the planet.
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