France Sold 4.56% of Engie Shares to Investors and Engie for EUR1.53 Billion

Features Dow Jones Newswires

The French government said late Tuesday that it sold 111 million shares in Engie SA (ENGI.FR) to institutional investors and the company itself for 1.53 billion euros ($1.82 billion).

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The shares represent 4.56% of Engie's total capital.

France's state investment agency said it placed 99.9 million shares at EUR13.80 each to institutional investors and sold 11.1 million shares to the energy company at the same price.

The government's stake in Engie has been reduced to 24.1% and its voting rights to 27.6%. It remains Engie's main shareholder and will continue to guide the group through its strategic transformation.

Engie said the shares acquired will be used for employee savings plans in a bid to involve staff in the company's transformation, adding that this will also limit the dilution associated with the operations.

Write to Barcelona Editors at barcelonaeditors@dowjones.com ; translation by Marc Bisbal Arias marc.bisbalarias@dowjones.com

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(END) Dow Jones Newswires

September 06, 2017 06:08 ET (10:08 GMT)