ZURICH, April 5 (Reuters) - Swiss investors EOS Holding and Primeo Energie are jointly buying French group EDF's 25 percent stake in utility Alpiq Holding for 489 million Swiss francs ($489 million), or 70 francs per share, the companies said on Friday.
The stock had closed on Thursday at 65.20 francs.
The move by the two minority shareholders aims to consolidate control of Alpiq in Swiss hands and eventually take the power supplier private, they said in a statement.
The transaction will be financed through mandatory exchangeable loans from CSA Energy Infrastructure Switzerland (CSA), an investment boutique run by Credit Suisse.
EOS until now had 31.4 percent of Alpiq and Primeo Energie had 13.7 percent. The EDF deal will boost a Swiss consortium's combined Alpiq stake to 88 percent.
The transaction is subject to approval by competition authorities in Germany.
The purchase does not trigger a mandatory offer to remaining shareholders, and any voluntary offer does not carry a minimum price under Swiss takeover rules, the partners said.
Alpiq accounts for 15-20 percent of Switzerland's power output. It plans to focus on hydropower as Switzerland exits nuclear energy production.
$1 = 0.9995 Swiss francs Reporting by Michael Shields, editing by John Revill