Transalpina di Energia (Tde) announces that today Consob has approved the information document relating to the totalitarian public offer on Edison ordinary shares. The cash consideration for each share is equal to 0,89 euro, while the membership period runs from 2 July to 3 August 2012.
Meanwhile the new Edf-branded Edison is ready to land on the Falkland Islands. The aim is to search for oil off the two islands that were the scene of war between the United Kingdom and Argentina in 1982.
The Foro Buonaparte company, now controlled by the French public giant, has in fact signed an agreement with Falkland Oil and Gas Limited (Fogl) to participate in exploration activities for hydrocarbons off the British archipelago in the South Atlantic. The drilling, writes MF, will cover vast areas to the north-east and south of the two islands which are considered among the most promising in the entire area as regards possible oil finds.
At a technical level, the agreement provides that Foro Buonaparte, now led by the Frenchman Bruno Lescoeur, acquires 25% of the licenses in the northern area, where two exploration wells will be drilled starting from July, and 12,5% in the southern area. All for a total cost of around 50 million (to be paid in the next 24 months) to which another 30 million will be added as a premium for previous costs incurred in the two licences. According to what has been leaked, the agreement between Edison and Fogl should not suffer bureaucratic hitches, as it has already been approved by the local government of the Falkland Islands.
Beyond the technical aspects, it should also be noted that the operation is of great importance. On a technical level it signals in fact the first exploration operation conducted by Edison in deep waters. While at a strategic level the agreement confirms EDF's desire to make Foro Buonaparte its global operating arm in the hydrocarbon sector. In fact, despite Edison already producing 48 barrels of oil a day today, with reserves of 360 million barrels and 80 licenses in various countries, among which Italy, Egypt, Norway, Croatia, Algeria and the United Kingdom stand out. The intention of the transalpine energy giant is to further strengthen the position of Foro Buonaparte in the oil and gas sectorthus diversifying the group's activities globally. In fact, it should be remembered that EDF operates above all in the electricity sector.
At 9.30, in Piazza Affari, the Edison share is in absolute parity at 0,888 euro per share.
