EnBW arbitration hearing: EDF's reaction
As part of the purchase of EDF's stake in EnBW, Neckarpri GmbH, the Baden-Württemberg state-owned entity that made the purchase, initiated an arbitration procedure against EDF in February 2012 with the International Chamber of Commerce. The Baden-Württemberg state believes that it paid EDF an excessive acquisition price for its stake in EnBW and is requesting restitution of €2 billion.
EDF considers this request to be completely unfounded and exorbitant. The Group reiterates that it accepted the €4.7 billion offer submitted by the Baden-Württemberg state for the purchase of its stake in EnBW in December 2010.
EDF intends to claim damages for harm of any kind caused to the Group by this abusive hearing, which is expected to last for several months.
