EDF, a French electric utility company, largely owned by the French state, acquired a 49% stake in Conergies Group. The Conergies Group is active in the design, engineering, installation and maintenance of refrigeration and air conditioning systems. Financial terms were not disclosed. Valerie Levkov, the EDF Director in charge of African, Middle Eastern and Eastern Mediterranean Countries stated: "Cooperation with CONERGIES-GROUP has confirmed speeding up of development of EDF activities in Africa. The energy efficiency services combined with carbon-free generation constitute a significant element of response to growing energy demand in African countries and reduction in CO2 emissions. It is also a factor for competitive development of local businesses based on better energy budget control. We are proud to meet these new challenges with a trustworthy partner, who shares our partnership strategy."