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EDF to sell at least 10 billion euros of assets by 2020

French power group EDF intends to sell assets worth at least 10 billion euros ($11.4 billion) by 2020 to help finance investments as it builds two EPR nuclear reactors in the UK, Les Echos reported on its website on Friday. The exploration and production activities of EDF's Edison unit have been placed under strategic review and are not considered a core business, Les Echos said. EDF declined to comment.

The Italian government is working with France over plans by the French state-controlled energy giant to restructure its Milan-based Edison unit, an undersecretary at the Italian industry ministry said last month. EDF announced a "strategic review" of its fossil-fuel fired power generation assets in continental Europe and fossil fuel production and sales outside France in July. EDF plans to keep its target for positive free cash flow after dividends in 2018, Les Echos added.

Copyright Reuters, 2015


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