Share Name Share Symbol Market Type Share ISIN Share Description
Energiser LSE:ENGI London Ordinary Share GB00B06CZD75 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 2.375p 2.25p 2.50p 2.375p 2.375p 2.375p 150,000.00 07:50:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.1 -0.1 -0.3 - 1.45

Energiser Share Discussion Threads

Showing 376 to 394 of 400 messages
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DateSubjectAuthorDiscuss
29/3/2017
20:58
Published on 29/03/2017 at 20h40 (Boursier.com) - On the occasion of French President François Hollande's visit to Southeast Asia, in the presence of Gérard Mestrallet, President of Engie, Didier Holleaux, Deputy Managing Director of Engie, signed 8 agreements aimed at developing clean and sustainable energy solutions, in line with the Group's strategy. These agreements reinforce Engie's commitment to the Asia-Pacific region and are part of the Group's strategy to become a world leader in energy transition. They illustrate the close collaboration with various stakeholders: governments, industrial partners, customers and local communities. In Singapore, Engie signed 3 agreements: - a partnership with Bolloré and Senoko Energy to co-develop solutions in the field of intelligent city, for example in the field of electric mobility and energy storage, and to explore opportunities in airport services; - a partnership with Nanyang Technology University (NTU), Singapore and Schneider Electric to develop micro-network solutions; - a partnership for the creation of an International Research Network, signed by Gérard Mestrallet, NTU, the French National Center for Scientific Research (CNRS), the Atomic Energy and Alternative Energies Commission (CEA) French academic partners. In Malaysia, the Group has signed two partnership agreements with Sime Darby, a multinational conglomerate based in Malaysia, to co-develop solar energy business opportunities and integrated facilities management services. It also inaugurated the extension of its facilities for the Megajana urban cooling system, located 40 km from Kuala Lumpur. In Indonesia, Engie has signed 3 partnership agreements to develop, co-finance, build and operate micro-grids and other renewable energy projects in different regions of Indonesia, for a total value of $ 1.25 billion. Over the next 5 years.
waldron
29/3/2017
08:39
Published on 29/03/2017 at 09h04 (Boursier.com) - Engie jumped 1.7% to 12.9 euros at the opening, backed by a weight analyst. JP Morgan raised from "neutral" to "overweight" his recommendation on the energy group's title, targeting 14.50 euros.
waldron
28/3/2017
09:13
Italy's Eni, already France's second-biggest gas retailer, said on Tuesday that it will launch an electricity retail offer and is targeting 1 million French customers by the year-end. Eni, which started gas retailing in 2012, had won 700,000 gas customers in France by the end of last year and had 2016 sales of 1.2 billion euros ($1.30 billion) in France. In November 2016, it also started selling power to professional customers and now has some 1,500 client sites. Eni said in a statement that the French retail power market "offers incredible growth potential" as energy bills are a heavy burden for consumers. Eni will offer several formulas to its customers, competing on price with former monopoly power vendor EDF, which at the end of 2016 had a market share of 85.8 percent of all client sites. Gas utility Engie and power retailers Direct Energie and Lampiris also compete with EDF in the French retail power market. ($1 = 0.9206 euros) (Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta)
waldron
23/3/2017
09:35
12 May 2017 Shareholders’ meeting
waldron
19/3/2017
19:46
Calendar 12 May 2017 Shareholders’ meeting 28 Jul 2017 2017 Half Year Results
grupo guitarlumber
19/3/2017
08:15
The European Commission gave its green light Friday to Belgium's plan to compensate Engie-Electrabel and EDF Belgium for the potential financial risks associated with the long-term operation of the Tihange 1 nuclear reactors, Doel 1 and Doel 2, That this support was not contrary to the European rules on State aid. The Minister of Energy, Marie Christine Marghem, is delighted. Member States are left free, by European treaties, to define how they obtain their energy, and thus decide to invest in nuclear energy. Belgium has decided in 2014 and 2015 to extend the operation of nuclear power plants by 10 years and has promised compensation to Engie-Electrabel and EDF Belgium if its plans change over the next ten years. At the end of its assessment, the Commission found that "investment guarantees provide an economic advantage to Engie-Electrabel and EDF, which goes beyond what they could have claimed under Belgian legislation in general ". EU rules state that such State aid must be limited and proportionate to the objectives pursued. However, the Commission concluded that Belgium had demonstrated that the measures avoided any unjustified distortion of the Belgian energy market. "I very much welcome this decision of the European Commission. It is now demonstrated that the reasoning followed by the Belgian government did not confer any gift to Electrabel," reacted Marie Christine Marghem Friday afternoon. "With this new step, we are continuing to work with my regional colleagues to develop the Energy Pact, which will provide Belgium with a sustainable energy framework."
grupo
17/3/2017
09:51
French energy company ENGIE announced Wednesday that it has issued its second green bond, worth approximately US$1.6 billion. The company announced that it will use the bond to grow its development strategies in renewable energies and energy efficiencies. This bond is split between two tranches — a seven-year tranche of approximately US$753 million with a 0.875% annual coupon, along with an 11-year tranche of US$861 million with a 1.5% annual coupon. Proceeds from the bond will be used to finance renewable energy projects such as wind and solar farms, hydroelectric plants, energy efficiency projects and natural resources preservation projects. In order to be eligible, these financed projects must adhere to eight environmental and social standards: fight against climate change and the conservation of the natural resources, environmental management, biodiversity, dialogue with stakeholders, business ethics, human rights, responsible procurement and health and safety.
grupo guitarlumber
14/3/2017
13:04
Engie Eyes Bid for $19.8 Billion Utility Firm Innogy by Dinesh Nair , Manuel Baigorri , Ruth David , and Aaron Kirchfeld 13 March 2017, 18:16 CET 14 March 2017, 11:13 CET French utility said to be consulting advisers about a bid Deliberations are at an early stage, no final decisions made Engie SA is considering an offer for German renewable-energy utility Innogy SE as its majority owner RWE AG weighs strategic options, people familiar with the matter said. The most important market news of the day. Get our markets daily newsletter. The former French natural-gas monopoly is speaking to advisers and hasn’t made a final decision about whether to proceed, the people said, asking not to be identified because the deliberations are private. The deliberations are preliminary and may not lead to an offer, they said. Innogy had a market value of 18.6 billion euros ($19.8 billion) at the close of trading on Monday, before Bloomberg reported the potential deal. Representatives for Engie and Innogy declined to comment. RWE declined to comment on a sale and reiterated that it “can in principle sell Innogy shares and thereby reduce its stake to 51 percent.” RWE owns about 77 percent of Innogy’s shares after splitting the company off last year. RWE Chief Executive Officer Rolf Martin Schmitz said Tuesday that the company is looking at a number of strategic options. The utilities sector is likely to see “large, game-changing” mergers and acquisitions because of low borrowing costs and stronger balance sheets, according to a January report from Goldman Sachs Group Inc., which advised RWE on the Innogy spinoff. RWE is working with two financial advisers as it weighs several strategic alternatives, including potential options for its stake in Innogy, two separate people familiar with the plans said. Innogy may attract interest from other large European utilities seeking to expand in renewables, the people said. Read more: Why the worst may be over for utilities RWE, which said Tuesday that 2017 profit will get a boost from its Innogy and trading divisions, advanced as much as 9.1 percent in Frankfurt, the biggest intraday gain since May. Innogy rose as much as 6.2 percent and Engie slipped 2.8 percent in Paris. Renewables Push RWE and its main competitor EON SE, once among the biggest companies in Germany, have been transformed by Chancellor Angela Merkel’s shift toward an economy underpinned by renewable energy instead of nuclear and fossil fuels. Wholesale power prices have dropped more than 40 percent since 2011, resulting in combined writedowns of almost 30 billion euros. In an attempt to turn the tide, both companies split themselves in two: as well as Innogy’s separation from RWE, EON spun off its legacy fossil-fuel business into Uniper SE. The shake-up stirred talk of consolidation in the industry. EON has also considered a tie-up with Innogy, people familiar with the matter said in January. In the event of a sale of Innogy, “RWE would have lots of money but no sustainable business model,” Erkan Aycicek, an analyst at Landesbank Baden-Wuerttemberg, said by phone from Stuttgart. French Interest Engie, 29 percent held by the French state, is also trying to shift away from fossil fuels. The company was negotiating the sale of a stake in its oil and gas business to Neptune Oil & Gas Ltd., people familiar with the matter said last month. France, which will hold its first round of presidential elections next month, has been reducing its interest in Engie, selling 4.1 percent in January. Engie will reinvest the 15 billion euros it expects to raise from disposals to expand in energy services, renewable power and gas pipelines, where revenue is regulated or more predictable. It’s bidding for renewable projects in the Middle East and predicts that solar power, battery storage and rising sales of electric vehicles will all weigh on demand for crude. Before it's here, it's on the Bloomberg Terminal.
waldron
14/3/2017
11:09
RWE can cut Innogy stake as M&A report lifts shares By Christoph Steitz and Tom Käckenhoff | ESSEN, Germany German utility RWE (RWEG.DE) said it could cut its stake in Innogy (IGY.DE) to 51 percent, but declined to respond directly to a report that France's Engie (ENGIE.PA) was considering a bid for the networks and renewables business it listed last year. RWE would not comment on what it called "market rumors" following a report by Bloomberg that Engie was talking to advisers but had not yet decided whether to proceed with a bid for Innogy, in which RWE holds a 76.8 percent stake. Shares in RWE and Innogy were up by 6.8 and 4.2 percent respectively, with traders pointing to the possibility of wider consolidation in the sector should a bid materialize. Engie shares traded 2 percent lower. Analysts at Morgan Stanley said a deal would make sense. "Engie would gain access to UK customers (an area it has ebeen looking to grow in) and German grids (where it has no exposure)," they said in a note, adding buying Innogy would increase Engie's regulated earnings. Engie Chief Executive Isabelle Kocher is pushing a strategy shift to focus the former French monopoly gas utility more on grids and renewables, but she has given no indication that she wants a transformative deal. The French company's shares are down more than 70 percent from their 2008 highs and are trading well below book value, which would make financing such a big acquisition with a capital increase very expensive. Innogy and Engie declined to comment. Innogy has a market valuation of around 18.6 billion euros ($19.8 billion). Its shares listed at a price of 36 euros last October but traded at 34.85 euros on Tuesday. "There should also be a positive read across for E.ON (EONGn.DE), who could be an equally attractive (and cheaper) acquisition target for Engie, if RWE were to reject its offer," Bernstein analyst Deepa Venkateswaran said in a note. Also In Deals Ackman's Pershing Square sells Valeant stake, takes $3 billion loss Nissan boosts management presence at Mitsubishi Motors The talk of interest in German utilities reflects efforts by RWE and E.ON to reshape their businesses when Germany's focus on promoting renewable energy has put pressure on returns. Listed by RWE last year in Germany's biggest IPO since 2000, Innogy is an important source of income for RWE. It proposed a payout of 1.60 euros ($1.70) per share on Monday, at the upper end of its range. RWE has previously said it wanted to remain a majority shareholder in Innogy in the long-term. It said on Tuesday that a supervisory board decision was in place that enabled RWE to cut it stake in Innogy to 51 percent, not elaborating further. RWE last month canceled its dividend for ordinary shares for the second year in a row, and Chief Executive Rolf Martin Schmitz said on Tuesday it would not be a good idea to pay out dividends by going into debt or selling Innogy shares. (Additional reporting by Geert De Clercq in Paris; Editing by Keith Weir)
waldron
14/3/2017
10:40
Published on 14/03/2017 at 10h11 The rumor of Engie's interest in Innogy, even though German RWE has said it does not want to give up control of its subsidiary, weighs on the French energy company on the stock market, with a title that falls From -2.8% to 12.275 euros in the morning. "Even if Innogy clearly articulates with Engie's strategy to refocus on renewable energy, infrastructure and services, such a transaction seems surprising because Engie appeared more willing to carry out small operations than a major acquisition, Comments this morning Pierre-Antoine Chazal, at Bryan Garnier's. The analyst believes that a takeover of Innogy comes up against several pitfalls, the position of RWE is not the thinnest. Moreover, such an operation would jeopardize the financial ratios of Engie, unless a large capital increase is carried out. The specialist remains however buyer of the French group, valued 15.50 euros per share. At Jefferies, Ahmed Farman points out that Innogy is more of a financial asset than a core business for RWE. "Monetizing this participation would have the advantage of making the interest of participation more visible" for RWE, he said.
waldron
14/3/2017
10:15
FRANKFURT--Shares in German energy producer RWE AG (RWE.XE) and its renewables unit Innogy SE, soared Tuesday following a report that French gas monopoly Engie SA was interested in acquiring newly spun-off Innogy. Shortly after opening, RWE and Innogy jumped more than 7% and 5% respectively, before shedding gains. At 0843 GMT shares in RWE, which still owns 77% in Innogy, traded 5.5% higher, while Innogy was up 3.8% at EUR34.70 ($37.05). Bloomberg reported late Monday that Engie was weighing an offer for Innogy, citing people familiar with the matter. The deliberations were preliminary and may not lead to an offer, Bloomberg reported. In a statement early Tuesday, RWE declined to comment on the report. It added that a full sale wasn't foreseen in any part of its spin-off strategy, which separated its wind, solar, grid and retail business into the new company. RWE added it could "in principle sell... shares and thereby reduce its stake to 51%," but that no decision has been taken. Innogy has a market value of roughly EUR18.6 billion based on Monday's closing price. Traders dismissed the speculation early Tuesday. "If Engie was interested in Innogy, it could have gotten it at a lower price and more easily at the time of the spin-off," said one trader. Like other utilities in Germany and parts of Europe, RWE has been hurt by low wholesale electricity prices amid a power glut spawned by a rise in renewable energy and low commodity prices. To respond to the tough conditions, both RWE and its main competitor E.ON SE have split themselves in two, separating their renewable segments into new companies. "While Innogy's businesses would clearly fit with Engie's new strategy to focus on renewables, infrastructure and customer solutions, a transaction would seem surprising in our view as Engie seemed more inclined to pursue bolt-on acquisitions rather than big transformative deals," said an analyst at Bryan Garnier. "More importantly, RWE does not appear inclined to fully sell its current stake in Innogy, which was confirmed by the group yesterday evening. In all, we believe such an acquisition would add complexity and uncertainty to Engie's case." Michael Denzin contributed to this article Write to Natascha Divac at natascha.divac@wsj.com (END) Dow Jones Newswires March 14, 2017 05:48 ET (09:48 GMT)
waldron
14/3/2017
08:31
German utility RWE on Tuesday said it could lower its stake in networks and renewables unit Innogy to 51 percent, omitting a direct response to a report saying that France's Engie was weighing a bid for the firm. It also reported 2016 financial results.
waldron
13/3/2017
17:34
Https://www.bloomberg.com/news/articles/2017-03-13/eu-utility-pain-intensifies-as-russian-gas-jumps-most-in-7-years Gas Jumps Most in 7 Years by Elena Mazneva 13 March 2017, 07:00 CET 13 March 2017, 10:35 CET Gazprom prices on Germany border rose 14% last month: IMF data Russian gas may gain further as link to oil rates still strong The price European utilities pay for their natural gas is on a tear. Rates for Russian fuel at the German border last month jumped the most in seven years, extending their gain since September to almost 50 percent, according to the International Monetary Fund. The price of fuel from Moscow-based Gazprom PJSC may increase further even as prices on traded hubs decline, according to analysts including Deutsche Bank AG. That’s bad for European utilities from Italy’s Eni SpA to France’s Engie SA, which are already grappling with a slump in power prices and the need to spend billions on upgrading grids and old plants. While the Russian supplier says changes in its export price reflect moves in both oil and gas-hub rates, a link with crude still dominates, Deutsche Bank analyst Pavel Kushnir said. “We’ll likely see a further upward trend in Gazprom prices, especially strong in the second quarter,” Deutsche Bank analyst Pavel Kushnir said by email. The price of gas supplied by state-owned Gazprom at Germany’s border climbed 14 percent in February to $5.88 a million British thermal units, the IMF data show. Day-ahead gas on the U.K.’s National Balancing Point fell 20 percent in February, according to broker data compiled by Bloomberg. Gazprom, which supplies about a third of Europe’s gas, sees its prices recovering from a 12-year low in 2016. Most of the exporter’s contracts have an oil link, usually with a delay of six to nine months, while some also have minimum and maximum prices indexed to market rates. That means some of Brent crude’s 21 percent gain since end-July hasn’t yet filtered through. Brent crude may climb almost 20 percent by the end of the year, Morgan Stanley said on Friday. While spot gas is seen falling further during the warmer summer season, Russian gas flows are unlikely to decline significantly, Kushnir said. Gazprom plans to ship a record volume to its biggest market for a second year even as more liquefied natural gas may come to Europe this summer. It sees European gas demand rising about 5 percent in 2017, deputy head Alexander Medvedev said last week in an interview. The impact on German utilities including Uniper SE and RWE AG may be limited, according to Deepa Venkateswaran, an analyst at Sanford C. Bernstein & Co. “Gas plants already don’t make any money in Germany -- many are mothballed or under special contracts,” she said. “A rise in gas prices will not really impact the profitability of these players.” The clean-dark spread, a measure of gas power plant profitability, has been negative in Germany since January 2012, according to broker data compiled by Bloomberg. That has led to the closure of plants, leaving the fuel trailing coal, nuclear, wind and biomass in electricity generation last year. “Rising gas prices crush the hope that German utilities could bring back previously mothballed gas-fired power stations any time soon,” said Elchin Mammadov, an energy analyst at Bloomberg Intelligence in London.
waldron
12/3/2017
10:12
Http://explorationanddevelopment.energy-business-review.com/news/ineos-acquires-engies-shale-gas-interests-in-uk-100317-5760280
grupo
10/3/2017
19:30
ENGIE lifts production at North Sea Gjøa, sees exploration potential 03/10/2017 The Gjøa field in the Norwegian North Sea achieved a new high of oil and gas production of 43.8 MMboe in 2016. (Courtesy ENGIE E&P Norge) The Gjøa field in the Norwegian North Sea achieved a new high of oil and gas production of 43.8 MMboe in 2016. (Courtesy ENGIE E&P Norge) Offshore staff SANDNES, Norway – ENGIE E&P Norge and its partners are seeking further exploration opportunities in and around the Gjøa license area (PL 153) in the Norwegian North Sea. Last year the Gjøa field achieved a new high of oil and gas production of 43.8 MMboe, 5% more than in 2015 and above expectations. This made it the fifth highest producing field on the Norwegian shelf in 2016, according to the Norwegian Petroleum Directorate. Hilde Ådland, Head of Asset Gjøa and Vega at ENGIE E&P Norge, said: “Due to good reservoir management, Gjøa is set to produce 60 MMboe more than estimated at start of production.” The main drivers for last year’s increase were that the wells delivered more than predicted; the production facilities had higher than anticipated available capacity; and process and export regularity was higher than forecast. This summer the partners plan a 4D seismic acquisition to further improve their understanding of the field’s remaining potential and to enable further optimization. ENGIE added that its recent Cara oil and gas discovery has stimulated the license partnership’s interest in this region. Head of Subsurface Raphaël Fillon said: “Cara…gives us a better understanding of the subsurface, and strengthens our expectations for other licenses in this area. The plan is to mature two specific prospects outside the Gjøa production area.” The two prospects are P1/North (a segment within the Gjøa field), and Hamlet, an extended part of the 35/9-3 discovery well. Exploration drilling should get under way by 2018/2019. This will be the first exploration activity at the Gjøa field since 2010. 03/10/2017
ariane
09/3/2017
21:08
Engie confirms plan to sell Petronet LNG stake Thu 09 Mar 2017 by Karen Thomas Print story Email us AddThis Sharing Buttons Share to LinkedInShare to TwitterShare to FacebookShare to Google+ Engie confirms plan to sell Petronet LNG stake Petronet imports 80 per cent of India’s LNG French energy company Engie has confirmed that it will sell the 10 per cent stake that its subsidiary GDF International holds in Petronet LNG, India’s largest LNG-import company. Engie has offered first refusal for its 75 million shares to the four Indian state-owned companies that own half of Petronet LNG: GAIL India, Explorer Oil and Natural Gas, Bharat Petroleum and Indian Oil. Each of the four holds a 12. 5 per cent stake in Petronet LNG. In a statement sent to LNG World Shipping this morning, Engie pledged to continue to work with Petronet on LNG projects “of mutual interest”, including LNG bunker-supply projects, LNG supply and small-scale ventures. Petronet handles an estimated 80 per cent of India’s LNG imports and is the world’s fourth-largest importer of LNG. India took in 20 million tonnes (mt) of LNG last year, according to data from Shell. India imported less than 15 mta in 2015 and is tipped by the International Energy Agency (IEA) and several other agencies as one of the world’s fastest-growing LNG-import markets. A spokeswoman said: “[Engie] has decided to dispose of its financial participation in Petronet LNG. Engie is proud of its decades-long association with PLL’s success story and is confident in PLL’s long-term growth potential. The group will continue to co-operate with PLL on any topic of mutual interest; LNG supply, new projects, technical support and small-scale bunkering.” Analysts say the company wants to free itself to pursue new LNG investments in India. Early last year, Engie launched “a process of assets portfolio rotation”, having restructured with effect from January 1, 2016 to form 24 market-based business units and five global industry-based business units. Today’s statement continued: “The company has assessed the merits of disposing of its share in PLL because, as opposed to other promoters’ offtakers, it is considered to be mainly a financial participation. The divestment of our shares takes place in the strict context of a rotation within Engie’s assets portfolio, which does not prejudge our strong belief in [Petronet LNG’s] long-term growth potential.”
the grumpy old men
09/3/2017
10:48
Engie: UBS confident over the long term FR0010208488 Published on 09/03/2017 at 11h13 (UBS) - The UBS analyst team has drawn positive conclusions from Engie's recent annual publication. In particular, the broker was pleasantly surprised by the 2017 guidance (EBITDA in a range of 10.7 / 11.3 billion and net profit of between 2.4 and 2.6 billion euros), well above consensus forecasts. After updating its profit sequence, UBS therefore raises its target on Engie from 12 to 12.50 euros, while renewing its "neutral" opinion. The prudence of the research office is due to tensions on the balance sheet, which should not disappear any time soon after the sale of projected assets. In contrast, UBS is confident about the transformation story that is expected to take effect beyond 2018.
the grumpy old men
09/3/2017
08:39
Engie Seeks to Sell Entire Stake in India's Biggest LNG Importer by Saket Sundria and Debjit Chakraborty 9 March 2017, 08:39 CET Engie offers to sell 10% stake to existing Petronet founders Co. holds 75 million shares, valued at about 29 billion rupees France’s Engie SA plans to sell its entire 10 percent holding in India’s biggest importer of liquefied natural gas. GDF International, an Engie unit, has written to the four Indian state-owned companies that together own half of Petronet LNG Ltd. to offer shares in proportion to their holding in the company, Petronet said in a stock-exchange filing Thursday. “It is mandatory for GDF to offer its holding to other founders as per the shareholders agreement,” R.K. Garg, finance director of Petronet LNG, said in a phone interview. “Only if the other founders don’t buy, GDF can sell it to anyone it wishes.” Explorer Oil and Natural Gas Corp., refiners Bharat Petroleum Corp. and Indian Oil Corp., and gas distributor GAIL India Ltd. form the founder group, with a 12.5 percent stake each in Petronet. Engie holds 75 million shares in Petronet valued at about 29 billion rupees ($434 million) at current market prices. Petronet fell as much as 2.2 percent to 378.20 rupees in Mumbai and was trading at 386.10 rupees as of 12:47 p.m. Subir Purkayastha, director finance of GAIL India Ltd., and A.K. Sharma, the finance head of Indian Oil Corp., couldn’t be reached for comment on their mobile phones. Before it's here, it's on the Bloomberg Terminal.
maywillow
08/3/2017
18:45
Suez buys GE Water in $3.37 billion deal, considers capital increase By Geert De Clercq | PARIS French waste and water group Suez (SEVI.PA) and Canadian fund Caisse de dépôt et placement du Québec (CDPQ) will buy GE Water from General Electric (GE.N) for an enterprise value of 3.2 billion euros (2.77 billion pounds),Suez said in a statement. In an all-cash deal, Suez and CDPQ will buy 100 percent of GE Water through a 70/30 joint venture, to which Suez will contribute its existing industrial water activities. The new business will operate under the Suez brand. Chief executive officer Jean-Louis Chaussade told reporters the industrial water market is more important than Suez's traditional municipal water markets because industry accounts for 15 to 20 percent of global water consumption compared to just 5 to 8 percent for human consumption in cities. The industrial water market is worth about 95 billion euros globally and grows by about 5 percent per year, he said. "This is a strategic acquisition for Suez," Chaussade said. Suez said it had fully underwritten bridge financing in place for the transaction, and is considering refinancing it through a capital increase of about 750 million euros. It said its main shareholders, Engie (ENGIE.PA), CriteriaCaixa and Caltagirone Group have confirmed their intention to participate in the capital increase for their pro rata share. Lead shareholder Engie said in a separate statement it would subscribe to the capital increase to the full extent of its 32.6 percent stake in Suez at a cost of about 240 million euros. Suez will also issue a 1.1 billion euro long-term senior bond and 600 million worth of hybrid bonds. CDPQ will contribute 700 million euros of equity to the venture. The new business unit will have revenue of about 2 billion euros, compared to Suez's current 15 billion euros, and will employ 10,000 people, of which 7,500 will come from GE Water. Also In Business News UK faces tougher Brexit challenge after 2017 resilience - Hammond FTSE steady, budget lifts builders Chaussade said Suez expects 200 million euros worth of revenue synergies per year in the group's water business, but had not included possible synergies between its water and waste business. "Cross-selling between our water and waste units will be reinforced, as clients increasingly want environment services that include water and waste treatment," he said. ($1 = 0.9483 euros) (Reporting by Geert De Clercq; Editing by Adrian Croft)
maywillow
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