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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Engie S.A.    ENGI   FR0010208488

ENGIE S.A. (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 CET

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 inti.landauro@dowjones.com

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

Stocks mentioned in the article : GDF SUEZ, SUEZ ENVIRONNEMENT, SOFINA, AREVA, CNP ASSURANCES
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Financials (€)
Sales 2016 66 649 M
EBIT 2016 6 153 M
Net income 2016 2 397 M
Debt 2016 26 366 M
Yield 2016 8,88%
P/E ratio 2016 11,53
P/E ratio 2017 11,88
EV / Sales 2016 0,81x
EV / Sales 2017 0,80x
Capitalization 27 433 M
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 14,1 €
Spread / Average Target 25%
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Isabelle Kocher Chief Executive Officer & Director
Gérard Mestrallet Chairman
Judith Hartmann Chief Financial Officer & Executive Vice President
Anne-Marie Mourer Director
Alain Beullier Director
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