France Will Spend Nearly $10 Billion to Renationalize Electricity Company
France plans to pay 9.7 billion euros, about $9.8 billion, to fully renationalize EDF, the state-backed electricity giant, in a move that the government said would allow it to bolster the country’s energy independence, overhaul its nuclear power program and invest in renewables.

The French Finance Ministry said on Tuesday that it would offer EDF shareholders €12 per share for the roughly 14 percent of the company’s stock that the government didn’t already own. That price is more than 50 percent higher than what shares were trading at just over two weeks ago when Élisabeth Borne, the prime minister, announced the renationalization plan.

EDF’s shares, which had been suspended pending details of the offer, rose 15 percent when they reopened for trading in Paris on Tuesday. The Finance Ministry said it planned to file the offer with the market regulator by early September.