EBM has sold half of its Direct Energie shares
EBM has sold half of its shares in the French energy company, Direct Energie. The proceeds of around CHF 90 million will be used to strengthen EBM’s financial resources and optimising its financial structure. EBM’s share in Direct Energie has thus dropped to 4.6 percent.
For more than 100 years, EBM has been operating in France and supplying electricity to the city of Saint-Louis and further 11 municipalities in the Alsace region. In 2008, EBM acquired shares in Direct Energie with view to fully tapping the French electricity market. This acquisition strengthened EBM’s position in the French electricity market and enabled the company to meet the complex requirements linked to the tapping of the market with the assistance of an established French player. The close cooperation with Direct Energie enabled EBM to develop its competences required for operating in a fully tapped electricity market which could also be used for the Swiss market.
Direct Energie was founded in 2003 and today is the third-largest participant in the French electricity and gas market. The innovative and dynamic company provides its customers with reasonably priced green energy products and other services. Direct Energie will be providing more than 2.5 million customers in France and Belgium with energy by the end of the year. The company generates sales of around EUR 2.0 billion. This autumn, Direct Energie acquired Quadran, one of the leading companies in the wind, hydro and solar energy sector to create a solid foundation in this market. This successful growth was partially financed with capital increases in which EBM did not participate. This watered down EBM’s share to less than 10 percent, which thus lost its previous strategic importance. As a result, it was decided to reduce EBM’s share in Direct Energie by half.
On Thursday, 16 November 2017, EBM successfully placed more than half of the Direct Energie share parcel in the stock market for around CHF 90 million. Jacques Veyrat, the majority shareholder, and Xavier Caitucoli, CEO and co-founder, participated in this transaction with around EUR 10 million. EBM’s share in Direct Energie thus dropped to 4.6 percent. The proceeds will be used to strengthen EBM’s financial resources and optimising its financial structure.
Joachim Krebs, Corporate Communication Manager, Phone: +41 61 415 43 85, E-mail: firstname.lastname@example.org
About Direct Energie S.A.
As third largest electricity and gas company in France, the Direct Energie group serves more than 2.5 million residential and non-residential customers in France and Belgium (under name Poweo). Direct Energie is an integrated operator and is involved in the production and supply of electricity, gas supply and the sale of energy services to its customers. For more than 14 years, the Group’s success has been based on its technical expertise, excellent customer relations, competitiveness and its capacity to innovate. www.direct-energie.com