EDF, the French state-controlled nuclear power operator, has placed its €1.5 billion bid to buy out the minorities in its windpower business, EDF Energies Nouvelles (EDF EN), Financial Times reports. EDF has offered €40 in cash a share or an alternative share swap for the 50% of EDF EN it does not own.

Mouratoglou Group, which holds a 25.1% equity stake in EDF EN, is contributing all of its shares to offer, with 50% in cash and 50% in shares, adds The Wall Street Journal. Paris Mouratoglou will remain Chairman of the renewables unit after the deal.

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