PARIS, Jan. 14 (UPI) -- French utility EDF said it intends to acquire the remaining British Energy shares.
Electricite de France is eligible for the remaining ordinary shares under the Companies Act. The shares that are not currently held by investors will be purchased, EDF said in a statement.
Lake Acquisitions, EDF's bid vehicle, said it has declared its offer for British Energy, The Herald reports.
EDF acquired the British government's majority stake in British Energy last year, and multinational utility Centrica holds 25 percent.
Though British Energy will remain based in East Kilbride, EDF said the new combined company will take the EDF Energy name.
Humphrey Cadoux-Hudson, chief financial officer of EDF Energy, will head the combined group's nuclear new-build operation.
