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4-Traders Homepage  >  Equities  >  Euronext Paris  >  ENGIE    ENGI   FR0010208488

ENGIE (ENGI)
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GDF Suez to Give up Effective Control of Suez Environnement- Report

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12/05/2012 | 02:59pm CEST

French power company GDF Suez SA (>> GDF SUEZ) won't renew a shareholder pact giving it effective control of waste and water management company Suez Environnement(>> SUEZ ENVIRONNEMENT), a decision enabling it trim debt from its books, La Tribune reports Wednesday.

GDF Suez is likely to announce it won't renew a pact binding its 35.7% stake in Suez Environnement with the minority stakes of Belgian billionaire Albert Frere, state-owned financial company Caisse des Depots et Consignations, Areva (>> AREVA), CNP Assurances (>> CNP ASSURANCES) and Sofina (>> SOFINA). The total stake held under the shareholder pact is 48.4%, La Tribune reports on its website, citing unidentified sources.

Through the operation, GDF Suez would exclude the full debt load of Suez Environnement in its accounts. As a result, it would reduce its debt load by 5 billion euros ($6.5 billion), says the report.

The pact comes up for renewal in July. Officials at GDF Suez declined to comment.

At 1338 GMT, GDF shares were down 0.06% at EUR17.43, and at 1340 GMT, shares of Suez Environnement were up 1.47% at EUR8.58.

Newspaper website: www.latribune.fr

Write to Inti Landauro at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : GDF SUEZ, SUEZ ENVIRONNEMENT, SOFINA, AREVA, CNP ASSURANCES
Stocks mentioned in the article
ChangeLast1st jan.
AREVA 0.00% 4.5 End-of-day quote.4.63%
CNP ASSURANCES 0.09% 21.26 Real-time Quote.10.41%
ENGIE 0.32% 14.135 Real-time Quote.-1.40%
SOFINA 0.56% 143.6 Delayed Quote.9.49%
SUEZ ENVIRONNEMENT -0.17% 11.855 Real-time Quote.-19.16%
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Financials (€)
Sales 2018 63 590 M
EBIT 2018 5 565 M
Net income 2018 2 441 M
Debt 2018 22 363 M
Yield 2018 5,11%
P/E ratio 2018 14,01
P/E ratio 2019 12,81
EV / Sales 2018 0,89x
EV / Sales 2019 0,89x
Capitalization 34 423 M
Chart ENGIE
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ENGIE Technical Analysis Chart | ENGI | FR0010208488 | 4-Traders
Technical analysis trends ENGIE
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 15,4 €
Spread / Average Target 9,3%
EPS Revisions
Managers
NameTitle
Isabelle Kocher Chief Executive Officer & Director
Gérard Mestrallet Chairman
Judith Hartmann Chief Financial Officer & Executive Vice President
Yves Le Gélard Chief Information & Digital Officer
Shankar Krishnamoorthy Head-Research, Technology & Strategy
Sector and Competitors
1st jan.Capitalization (M$)
ENGIE-1.40%42 293
ELECTRICITÉ DE FRANCE10.03%41 237
NATIONAL GRID PLC-7.11%38 171
SEMPRA ENERGY3.23%28 979
ORSTED14.20%26 832
E.ON-1.36%24 172