French utility giant EDF has extended its reach in Switzerland by taking control of Swiss power company Atel which operates in Western Switzerland.
The move came with the acquisition from UBS of 17.3 % of the capital of Motor Columbus, the company holding close to 60 % of Atel.
This operation concludes negotiations launched last July, when UBS announced its intention to transfer its entire stake in Motor Columbus, in which EDF already held a 20 % stake.
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