EDF weighs preferred equity for Edison stake
French utility EDF is exploring a preferred equity structure to sell a minority stake in Italian unit Edison. The shift follows LNG supply disruptions from the Strait of Hormuz that stalled initial public offering plans.
France's state-owned utility EDF is considering a preferred equity structure to sell a minority stake in Edison, after an Iran war LNG disruption blocked its IPO path, three people familiar with the matter said on a September afternoon. The utility seeks to fund new reactor construction and maintain its aging domestic fleet. Edison's liquefied natural gas supply contract from Qatar has faced delivery cancellations since April due to the closure of the Strait of Hormuz.
