EDF has just completed the previously agreed sale of EDF Capital-Investissement, its wholly-owned private equity subsidiary. Financial details of the divestment have not been divulged.
An agreement was signed in mid-October with two investment funds represented by the ARCIS group, an independent company formed in 1993 that acts as an advisor to specialist funds in the secondary private equity market. Approval of the sale was obtained by a ministerial order of November 6, 2006.
EDF Capital-Investissement was set up as a limited company nearly 10 years ago in partnership with Tocqueville International to provide EDF with a private equity business. Tocqueville International managed and helped develop the unit since its inception.
EDF said that the sale continues its plan to refocus its industrial operations on its core businesses in Europe.