French state-controlled power giant Electricite de France SA (EDF.FR) Friday said it will launch a tender offer for the shares it doesn't own in renewable energy-focused unit EDF Energies Nouvelles SA (EEN.FR), representing 50% of the company's capital, at EUR40 a share in cash or alternatively exchanging 13 EDF shares for 11 EDF Energies Nouvelles shares.

The Mouratoglou Group, which owns a 25.1% equity stake in EDF Energies Nouvelles, has "irrevocably" undertaken to contribute all of its shares to the tender offer, with 50% in cash and 50% in shares, EDF said in a statement.

Earlier, the group said its shares, as well as those of EDF Energies Nouvelles, had been suspended from trading pending the release of a statement.

The tender offer will be launched on May 26 and will end June 15, with the settlement and delivery expected to take place on July 5, EDF said.

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