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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 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 [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 -1.14% 19.93 Real-time Quote.3.51%
ENGIE 1.25% 12.975 Real-time Quote.-9.49%
SOFINA 0.29% 138.6 Delayed Quote.5.68%
SUEZ ENVIRONNEMENT 2.04% 11.27 Real-time Quote.-23.15%
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Financials (€)
Sales 2017 64 075 M
EBIT 2017 5 365 M
Net income 2017 2 387 M
Debt 2017 24 562 M
Yield 2017 5,51%
P/E ratio 2017 12,84
P/E ratio 2018 12,62
EV / Sales 2017 0,87x
EV / Sales 2018 0,83x
Capitalization 30 928 M
Chart ENGIE
Duration : Period :
Engie Technical Analysis Chart | ENGI | FR0010208488 | 4-Traders
Technical analysis trends ENGIE
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 15,6 €
Spread / Average Target 23%
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-9.49%38 044
ELECTRICITÉ DE FRANCE-1.20%37 684
NATIONAL GRID PLC-14.18%35 374
SEMPRA ENERGY-1.39%26 501
ORSTED11.51%26 037
E.ON-7.65%22 656