British Energy agrees EDF takeover at 775 pence

LONDON, July 25 (Reuters) - Nuclear operator British Energy (BGY.L: Quote, Profile, Research) has agreed to be taken over by French utility Electricite de France (EDF.PA: Quote, Profile, Research) for around 775 pence per share, a source briefed on the matter said on Friday. EDF is looking to agree a deal with Centrica (CNA.L: Quote, Profile, Research) to take a minority stake in the company, although the terms have yet to be decided, the source added, saying it hoped to finalise a deal with British Energy and Centrica by Wednesday.

The companies were not immediately available for comment. (Reporting by John Bowker)