France sells €1.5bn of Engie to finance innovation fund

By Aidan Gregory
06 Sep 2017

The French government came back to the equity block trade market on Tuesday night to sell another 4.5% chunk of its stake in Engie, the power and gas company, for €1.53bn, as part of a new €10bn asset sale programme announced in July.

JP Morgan was global coordinator, BNP Paribas and Morgan Stanley bookrunners.

Launched after an auction process, the sale of 99.9m shares, a 4.1% stake, was priced at €13.80. That was a discount of 1.2% to the closing price of Engie on Tuesday. The stock has risen by ...

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