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). 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.
France 's state investment agency has said the country 's government has sold 100 % shares in utility company Engie , raising € 1.53bn ( $ 1.82bn ) to be used in employee savings plans . The move has reduced the state 's stake in the company to 24.1 % and its voting rights to 27.6 % , but it remains the company 's majority shareholder and will continue to offer shares during Engie 's strategic transformation .