Member access

4-Traders Homepage  >  Shares  >  Euronext Paris  >  GDF SUEZ    GSZ   FR0010208488

GDF SUEZ (GSZ)

3125
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

GDF Suez to Give up Effective Control of Suez Environnement- Report

12/05/2012 | 08:59am US/Eastern

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
React to this article
Latest news on GDF SUEZ
1d ago GDF SUEZ : European Agreement on Well-Being at Work Signed With GDF Suez
1d ago GDF SUEZ : and its social partners sign a European agreement on the improvement ..
3d ago GDF SUEZ : Egypt- Gaz de France, British Gas to sign agreement to link West Boro..
3d ago GDF SUEZ : Mt. Tom Power Plant, a Subsidiary of GDF Suez : Energy North America,..
4d ago GDF SUEZ : Owner's Engineering for the Construction of the Largest Biomass-Fired..
6d ago GDF SUEZ : purchases battery system from Eos Energy Storage
7d ago Europe to suck up surplus global LNG supplies as prices tumble
7d ago GDF SUEZ : FERC Issues Order Approving Boat Overcrowding Plan Re FirstLight Hydr..
11/20 GDF SUEZ : RSI Announces Award of a Three Year Quantitative Geophysics Frame Agr..
11/20 GDF SUEZ : IT goes on the hunt for new IS talent
Advertisement
Chart
Duration : Period :
GDF SUEZ Technical Analysis Chart | GSZ | FR0010208488 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF