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

ENGIE S.A. (ENGI)

Delayed Quote. Delayed  - 09/23 05:35:53 pm
13.855 EUR   -0.32%
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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 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 66 866 M
EBIT 2016 6 140 M
Net income 2016 2 521 M
Debt 2016 25 366 M
Yield 2016 7,22%
P/E ratio 2016 13,52
P/E ratio 2017 13,52
EV / Sales 2016 0,88x
EV / Sales 2017 0,86x
Capitalization 33 741 M
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 16,5 €
Spread / Average Target 19%
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Managers
NameTitle
Isabelle Kocher Chief Executive Officer & Director
Gérard Mestrallet Chairman
Judith Hartmann Chief Financial Officer & Executive Vice President
Raphaël Schoentgen Director-Research & Technology
Anne-Marie Mourer Director
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