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[waldron] 16/4/2012 12:44

April 16, 2012 12:30 pm

GDF Suez rallies after International Power deal
By Duncan Robinson
GDF Suez was the biggest riser on the FTSE Eurofirst 300 on Monday morning after it agreed a £6.4bn deal to acquire International Power .

The French utility group rallied 3.6 per cent to €18.60, after it announced the deal. The rally was supported by a forecast of recurring net profit of between €3.7bn and €4.2bn for 2012 on Monday morning.

Per Lekander, an analyst at UBS, said: "We continue to view GDF Suez as our favoured European integrated utility combining a high sustainable yield with good growth further boosted by a potential IPR buyout."

"GDF-Suez guidance is conservative, in particular considering the IPR-buyout," said Mr Lekander.

[waldron] 16/4/2012 08:53

GDF Suez CEO: Additional EUR3 Billion Disposals To Finance IPR Deal
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Gdf Suez (EU:GSZ)
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Today : Monday 16 April 2012
French power operator GDF Suez SA's (GSZ.FR) Chairman and Chief Executive Gerard Mestrallet Monday said that the group would make additional disposals worth EUR3 billion to partly finance its potential offer for the 30% in International Power PLC (IPR.LN) it doesn't own, after independent directors of the U.K.-based power distributor unanimously approved a sweetened price of 418 pence per share.
In a brief conference call, Mestrallet said that the additional divestitures would help finance a third of the cash offer which values International Power at GBP22.8 billion, while another third will come from GDF Suez's own equity after it offered to pay part of the 2011 and the 2012 dividends in GDF Suez shares instead of cash.
As the integration of International Power is to increase the group's exposure to emerging markets, GDF Suez intends to also increase its planned capital expenditures in those areas in the medium term, so that they represent 40% to 50% of its total capex, from an initial target of 30%.
Mestrallet insisted the group seeks to maintain its A-type credit rating as well as its dividend policy.
- By Geraldine Amiel, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 16/4/2012 08:24

GDF Suez Raises Offer for International Power to $10 Billion
By Brian Swint - Apr 16, 2012 9:02 AM GMT+0200 .LinkedIn Google +1 0 Comments
Print QUEUEQ..GDF Suez SA, Europe's biggest utility by market value, raised its offer to buy the 30 percent of International Power Plc (IPR) it doesn't already own to 6.4 billion pounds ($10 billion).

The revised bid of 418 pence a share is 7 percent more than an earlier offer of 390 pence that was rejected as too low this month. International Power shareholders would receive cash as well as a final dividend from 2011, Paris-based GDF said today in a statement.

The deal would be the second biggest this year after Glencore International Plc (GLEN)'s offer for Xstrata Plc. (XTA) It would give GDF complete control over the company it merged some divisions with last year to create the world's second-largest power producer.

"GDF Suez (GSZ) has made an attractive proposal and the independent International Power directors have concluded it represents a price that fairly reflects the company's position in international power generation markets and its inherent growth potential," Neville Simms, chairman of the independent directors of International Power, said in a statement.

GDF's bid will be funded from bank facilities and cash, the company said.

International Power completed a merger of assets with Paris-based GDF last year, boosting its gross generation capacity to more than 70,000 megawatts in 30 countries. The agreement involved combining International Power divisions with GDF assets in Turkey, the U.K. and outside Europe.

GDF said this month that it will sell more assets if the deal goes through. In February, it said it planned to sell assets valued at 10 billion euros ($13 billion) through 2013.

To contact the reporter on this story: Brian Swint in London at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]

[waldron] 16/4/2012 08:18

GDF Suez Agrees offer For International Power At 418P Cash/Share
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Gdf Suez (EU:GSZ)
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Today : Monday 16 April 2012
GDF Suez SA (GSZ.FR), a French natural gas and electricity supplier, Monday said its unit Electrabel SA has reached an agreement on the terms of a recommended cash offer with International Power PLC (IPR.LN) pursuant to which Electrabel will acquire International Power for GBP22.8 billion, assuming full conversion of International Power's convertible bonds and exercise of share options.
MAIN FACTS:
-Offer is to be effected by means of a Court-sanctioned scheme
-Under the terms of the offer, International Power shareholders will be entitled to receive 418 pence in cash for each share held.
-International Power shareholders will retain the right to receive the final dividend of 6.6 Euro cents per share for the year ended Dec. 31
-GDF SUEZ has committed to the Independent International Power directors to vote in favor of the final dividend at the International Power annual general meeting on May 15.
-Independent International Power directors to vote in favor of the offer.
-Electrabel currently has an interest in 70% of International Power's existing issued share capital.
-Offer will be funded from a combination of the GDF SUEZ Group's existing bank facilities and cash resources.
-GDF Suez revises 2012 Net Recurring Income Group Share target by EUR200 million, in the range of EUR3.7 billion to EUR4.2 billion versus EUR3.5 billion to EUR4.0 billion announced on Feb. 9.
-Target revised due to the full integration of International Power in the second half of 2012.
-For the full year 2013, the increase will amount to EUR400 million, before additional disposals.
-Shares of International Power on Friday closed at GBP4.04.
-By Tapan Panchal, Dow Jones Newswires. Tel [phone], [e-mail]

[waldron] 14/4/2012 07:42

..GDF Suez : support à 16.5.

Chart's – il y a 13 heures
....
Share0MailImprimer.....Sociétés :...GDF SUEZGDF SUEZ . ..COURS LIÉS.
.Symbole Cours Variation
GSZ.PA 17,96 -0,40

......Sur les 5 derniers jours, le titre a peu évolué, perdant 3.44%. Depuis le début de l'année, il est en baisse de 14.96%.

Du point de vue de l'analyse technique : le RSI est inférieur à sa zone de neutralité des 50. Le MACD est inférieur à sa ligne de signal et négatif. La configuration est baissière à court terme. Enfin, le titre est inférieur à sa moyenne mobile 50 jours.
A noter que les volumes sont en hausse depuis quelques jours.

Graphiquement : les niveaux de résistances se situent sur : 18.5 puis 18.8. Tandis que les prochains supports sont sur : 16.9 puis 16.5.

Notre préférence : Le titre GDF Suez (Euronext: GSZ.NX - actualité) (GSZ) est baissier tant que 18.8 est résistance.

Le point d'invalidation de notre scénario est situé sur : 18.8.
Cours de référence : 18

[grupo guitarlumber] 12/4/2012 08:57

GDF Suez Signs To Supply GASNOR With Gas Over 12-Year Period
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Gdf Suez (EU:GSZ)
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Today : Thursday 12 April 2012
French power company GDF Suez SA (GSZ.FR) Thursday said it signed an agreement to supply liquefied natural gas for 12 years to Norway's liquefied natural gas company NORGAS.
MAIN FACTS:
- GDF Suez and GASNOR, a Norwegian LNG company, have concluded a long term agreement, according to which GDF Suez will supply GASNOR with 7.5 TeraWatthours of liquefied natural gas over a 12-year period, starting in 2013.
- The LNG volumes will be sourced from GDF SUEZ portfolio and will be loaded by trucks or by small vessels from Zeebrugge LNG terminal in Belgium.
- These new volumes will help GASNOR to fulfill its growing LNG supply needs in Europe outside Norway.
- GDF Suez didn't disclose any financial detail of the agreement.
- By Paris Bureau, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 05/4/2012 21:16

GDF Suez Likely To Sweeten Bid For International Power- Source
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Gdf Suez (EU:GSZ)
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Today : Thursday 5 April 2012
Power operator GDF Suez SA is likely to "reasonably" increase the price it is prepared to offer for shares in International Power PLC it doesn't already own, according to a person familiar with the matter.
GDF Suez is "likely" to increase the price "reasonably above 405" pence a share, the person said.
The standoff between the two companies escalated on Wednesday, as the U.K. company rejected GDF's GBP6 billion ($9.55 billion) bid for the shares it doesn't already own, and the French utility reacted by warning it could walk away.
GDF Suez confirmed last week it is considering launching a formal bid for the 30% it doesn't own in International Power, offering potentially 390 pence a share.
Buying out International Power's minority shareholders would grant GDF Suez total control over the U.K.-based power distributor's strategy.
GDF Suez would also benefit from the increased value of International Power since it bought 70% of it in February last year, mostly on the back of anticipations of a minority buyout attempt. International Power's value was also boosted by its exposure to buoyant emerging markets.
Last week, investment firm Invesco, a major minority holder in International Power, sold shares to unidentified hedge funds at 405 pence a share, a price that explains "why it would be difficult [for GDF Suez] to offer to buy below or even at that price," the person also said.
The approach was rejected Wednesday by International Power's management as undervaluing the group, which GDF answered by saying it could also drop its plans.
GDF Suez's Chairman and Chief Executive Gerard Mestrallet insisted 390 pence a share would be a fair price and the group's board of directors as well as its biggest shareholders approved the potential offer, which is yet to be formalized.
GDF Suez's largest shareholder is the French state, which owns 36%, followed by Belgian businessman Albert Frere's holding Groupe Bruxelles Lambert, which owns 5.2%.
Mr. Mestrallet also insisted the group is determined to retain its A-type credit rating while the board offered to save some cash for the transaction in offering GDF Suez's shares to pay for the 2011 and 2012 dividends.
Yet analysts believe GDF Suez has the means to increase the price and that the apparent standoff between the two parties is but a normal part of a tough negotiation.
-By Geraldine Amiel, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 04/4/2012 09:27

UPDATE: GDF Suez: May Withdraw GBP6 Billion Bid For International Power
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Gdf Suez (EU:GSZ)
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Today : Wednesday 4 April 2012
GDF Suez SA (GSZ.FR) Wednesday said it could withdraw its GBP6 billion bid for International Power PLC (IPR.LN) after the U.K.-based company said it was rejecting the French utility's indicative offer for the remaining 30% of the company it doesn't already own.
International Power said the 390 pence bid "undervalues" the company. Under the GDF Suez bid, all of International Power would be valued at around GBP19.9 billion, while the current share price values the company at around GBP20.6 billion.
GDF Suez said the offer was still "attractive" and it was considering different options regarding International Power, including withdrawing the offer.
Earlier, International Power said in a statement that the members of the independent committee have unanimously concluded that the 390 pence per share offer "undervalues" the company.
"Accordingly GDF Suez has been notified that the independent committee is unable to accept the indicative proposal," the statement added.
Under the terms of the agreement between GDF Suez and International Power, the French utility is restricted from making a takeover offer for all, or any, of the outstanding International Power ordinary shares for the period until Aug. 3 or earlier with the consent of all of the independent non-executive directors, the statement said.
Earlier this week, shareholder Neptune Investment management said GDF should raise its bid. Robin Geffen, who runs Neptune, told Dow Jones Newswires that the bid should begin with a four, rather than a three, in line with the company's shares, which are trading above GBP4.
At 0705 GMT, International Power shares were up 0.4 pence at 403.4 pence, while GDF was down 0.7% at EUR18.91.
-By Selina Williams, Dow Jones Newswires [phone]; [e-mail]

[waldron] 04/4/2012 08:55

GDF Suez Calls International Power Offer Of 390p/Share 'Attractive'
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Gdf Suez (EU:GSZ)
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Today : Wednesday 4 April 2012
French utility company GDF Suez SA (GSZ.FR) Wednesday said its indicative offer for 30% of U.K.-based International Power PLC (IPR.LN) at 390 pence a share is "attractive for the minority shareholders" and it will now consider different options after IPR rejected the bid.
GDF Suez's options include withdrawing its offer for the stake, the French company said in a statement.
IPR had said earlier Wednesday it is unable to accept the GDF Suez offer as it undervalues the company.
Shares of the U.K. power company closed Tuesday at 403 pence.
-By Inti Landauro, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 04/4/2012 07:49

Internationl Power: Unable To Accept GDR's Indicative Proposal
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Intl Power (LSE:IPR)
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Today : Wednesday 4 April 2012
International Power PLC (IPR.LN), said Wednesday it has unanimously concluded that the indicative proposal of 390 pence per share undervalues the company and accordingly GDF SUEZ S.A. (GSZ.FR) has been notified that the independent committee is unable to accept the indicative proposal.
MAIN FACTS:
-This is further to the announcement made by International Power on March 29, regarding the receipt of an indicative proposal from GDF SUEZ, the independent committee of the board of International Power has carefully considered the indicative proposal with its advisers.
-Under the terms of the relationship agreement between GDF and IPR, GDF and its affiliates are generally restricted from making a takeover offer for all or any of the outstanding IPR ordinary shares for the period until Aug. 3, or earlier with the consent of all of the independent non-executive directors
-International Power shares closed Tuesday at 403 pence, valuing the company at GBP20.53 billion.
-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; [e-mail]

[waldron] 03/4/2012 13:59

UPDATE: Result Of French Wind Farm Tenders Expected This Week
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EDF (EU:EDF)
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Today : Tuesday 3 April 2012
The result of the offshore wind farm tender offer in France should be announced this week, French energy minister Eric Besson said Tuesday, following the weekly cabinet meeting.
Earlier Tuesday, Electricite de France SA's (EDF.FR) Chairman and Chief Executive Henri Proglio had said he expected the results of the tender offer "very soon."
"I'm waiting for the results of the tender offer, it seems to be imminent but it is not up to me to disclose the schedule," Proglio told reporters on the sidelines of a press conference.
Out of five planned wind farms off the north and west coasts of France, EDF has made bids for four, two off the Normandy coast and two off the Brittany coast.
"The CRE (Commission de Regulation de l'Energie) issued a report which I was told was rather positive for EDF but I don't have it and it's up to the government to decide," Proglio also said.
Monday, French business daily Les Echos reported that the French energy regulator CRE recommended to the French government to grant four projects to a consortium led by EDF and also comprising engineering firm Alstom SA (ALO.FR) and Denmark's Dong Energy, and drop the last project, off Normandy's Le Treport city.
EDF's French rival GDF Suez SA (GSZ.FR) bid for the Le Treport offshore windfarm project, along with Vinci SA (DC.FR) and Areva SA (AREVA.FR).
Ten bids have been made in total for the five French offshore windfarm projects, by three consortiums, one led by EDF, a second led by GDF Suez and the third led by Spain's Iberdrola (IBE.MC).
-By Geraldine Amiel, Adrien Richard and Gabriele Parussini, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 02/4/2012 21:45

Statement re dividend
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TIDMIPR
RNS Number : 6590A
GDF Suez SA
02 April 2012
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE
Press Release
The Board of Directors of GDF SUEZ met on Monday 2 April 2012 under the chairmanship of Gerard Mestrallet and unanimously confirmed its support to the possible offer of 390 pence per share for the remaining International Power shares not already held by GDF SUEZ.
The Board of Directors decided to offer to the shareholders the possibility to receive the final dividend for 2011 (EUR0.67) in GDF SUEZ shares.
The conditions for setting the value of the dividend in shares will include a 10% discount to the average share price over the twenty trading days immediately preceding the Annual General Meeting.
To enable the implementation of this option, the payment of the final dividend for 2011 is postponed from 30 April to 24 May 2012, the ex-date remaining on 25 April 2012 as originally announced.
The Board decided to offer the same option, for any interim dividend for the fiscal year 2012 that may be decided by the Board of Directors, subject to the success of the potential offer for the remaining shares of International Power it does not own.
In this context, the French State and Groupe Bruxelles Lambert (GBL) expressed to GDF SUEZ their intention to take up the option of receiving GDF SUEZ shares in respect of their share of the dividends.
This resolution is intended to supplement the financing of the proposed offer for the remaining International Power shares not already held by GDF SUEZ in complement to the upwards revision of the disposal plans previously announced.

[waldron] 02/4/2012 21:38

CORRECT: GDF Suez Board Moves To Ease Financing International Power Bid
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Gdf Suez (EU:GSZ)
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Today : Monday 2 April 2012
Power operator GDF Suez SA's (GSZ.FR) preparations for a potential bid for the remaining shares in International Power PLC (IPN.LN) it doesn't own were gathering pace as its board moved Monday to ease any financing issue for the proposed offer.
GDF Suez admitted Thursday it is considering formally bidding for the remaining 30% stake in International Power it doesn't own at 390 pence ($6.25) a share.
The potential move has been approved by the group's two largest shareholders--the French state which owns 36%, and Belgian businessman Albert Frere's holding Groupe Bruxelles Lambert (GBLB.BT) which owns 5.2%--as well as by its board, "unanimously," it said.
GDF Suez's directors also decided to offer shareholders the possibility to receive the final dividend for 2011, representing 67 euro cents (89 U.S. cents) per share, in GDF Suez shares and not in cash, the group said.
"This resolution is intended to supplement the financing of the proposed offer for the remaining International Power shares not already held by GDF Suez in complement to the upward revision of the disposal plans previously announced," it explained, adding that the French state and Groupe Bruxelles Lambert went for that option.
The directors also agreed to offer the same possibility for the interim dividend for 2012.
Asked if this move was designed to help GDF Suez to increase its offer or to maintain its A credit rating, a spokesman for GDF Suez declined to comment.
Thursday, International Power said that it had received the proposal but didn't elaborate on the reaction of its management nor its board and has remained mute on the potential offer since.
The price mentioned by GDF Suez--a "fair price" according to the group's Chairman and Chief Executive Gerard Mestrallet Thursday--is seen by analysts as probably too low to appeal to International Power's remaining shareholders and Monday, shareholder Neptune Investment Management actually said that GDF Suez SA should raise it.
Robin Geffen, who runs Neptune, told Dow Jones Newswires the bid was "slightly light." "The stock has traded above GBP4 so that does indicate there are more buyers than sellers at 390 pence," he said. "There are quite a few institutions who feel that the bid should begin with a four, not a three."
GDF Suez's potential offer would value the remaining stake at around GBP6 billion.
Thursday, Mestrallet insisted that the group was committed to maintaining its A credit rating and would be therefore ready to increase the amount of disposals it has already planned to dispose of EUR10 billion of assets between 2011 and 2013. Earlier this year, it said that in 2011, it completed two thirds of the assets sales that were planned over the period.
-By Geraldine Amiel, Dow Jones Newswires; [phone];
[e-mail]

[waldron] 29/3/2012 13:25

GDF Suez Makes Non-binding Offer For Rest Of International Power
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Gdf Suez (EU:GSZ)
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Today : Thursday 29 March 2012
French power operator GDF Suez SA (GSZ.FR) Thursday confirmed that it made a non-binding indicative proposal to buy the shares in U.K.-based International Power PLC (IPR.LN) it doesn't own yet at 390 pence each, insisting such a transaction would provide "significant benefits to both businesses."
The group "strongly believes that the indicative proposal offers attractive terms to International Power shareholders" and that a merger would simplify GDF Suez's structure and improve the further integration between the businesses.
The move is supported by the two largest shareholders of GDF Suez, the French state, which owns 36%, and the Belgian investor Albert Frere's holding Groupe Albert Frere, which owns 5.2%.
Earlier Thursday, International Power said that it had received such a proposal.
GDF Suez is now required, by no later than 1600 GMT on April 26, to either announce a firm intention to make an offer for International Power or announce that it doesn't intend to make an offer.
The news sent the group's share price down--at 1141 GMT, share in GDF Suez were trading down 1.8% to EUR19.09 while the CAC-40 benchmark index was down 1%.
Would the transaction proposed be completed, GDF Suez would remain committed to maintain its A credit rating and would also consider increasing its asset disposal plan, it said.
The group has planned to dispose of EUR10 billion worth of assets between 2011 and 2013. Earlier this year it said that in 2011, it sold two thirds of the assets sales that were planned over the period.
In February last year, GDF Suez finalized the combination of its international operations outside of Europe and some assets in the U.K. and Turkey with International Power, creating the world's largest private power generation group.
- By Geraldine Amiel, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 29/3/2012 13:10

International Power Gets 390P Bid Approach From GDF Suez
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Intl Power (LSE:IPR)
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Today : Thursday 29 March 2012
International Power PLC (IPR.LN), a power generation group, said Thursday that it has received a non binding indicative proposal of 390 pence in cash per share from GDF Suez S.A (GSZ.FR) to acquire the outstanding 30% it does not already own.
MAIN FACTS:
-GDF Suez is now required, by no later than 1600 GMT on April 26, to either announce a firm intention to make an offer for International Power or announce that it does not intend to make an offer.
-International Power shares at 0906 GMT, up 18 pence, or 4.6%, at 4,014 pence valuing the company at GBP19.53 billion.
-By Rory Gallivan, Dow Jones Newswires; 44-20-7842-9411; [e-mail]

[waldron] 26/3/2012 14:59

GDF Suez: Could Create As Many As 6,000 Jobs On French Windfarm
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Gdf Suez (EU:GSZ)
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Today : Monday 26 March 2012
French consortium comprising GDF Suez SA (GSZ.FR) and Vinci SA (DG.FR) and its industrial partner Areva SA (AREVA.FR) Monday said that would they be the successful bidder on three offshore windfarm tenders off Normandy, Northern France, the whole project would mobilize up to 6,000 jobs.
MAIN FACTS:
- More than 400 skilled jobs would also be created over the 20 years of operation in the ports of Fécamp, Dieppe, Le Treport and Ouistreham. The consortium is also committed to creating a sustainable manufacturing industry that creates jobs in Normandy. It has already met more than 80 local companies of the 300 identified, particularly in the coastal areas concerned in Normandy and Picardy.
- In Normandy today, GDF Suez Chairman and Chief Executive Gerard Mestrallet, Vinci CEO Xavier Huillard, CDC Infrastructure CEO Jean Bensaed and Areva CEO Luc Oursel highlighted their energy, economic and social plan connected with the call for bids to site 3,000 MW of wind power off France's coasts starting in 2015.
- Areva, as industrial partner of the consortium formed by GDF Suez, Vinci and CDC Infrastructure for the three zones in Normandy - Dieppe-Le Treport, Fecamp and Courseulles-sur-Mer - gave details of its industrial plan and, together with Gilles Fournier, Chairman of the Supervisory Board of the Port of Le Havre Authority, presented the 50-hectare site selected in the port area to host new offshore wind turbine manufacturing plants.
- By Paris Bureau, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 13/3/2012 18:44

GDF Suez CEOs To Take Helm Of Electrabel Unit - Report
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Gdf Suez (EU:GSZ)
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Today : Tuesday 13 March 2012
French power group GDF Suez's SA (GSZ.FR) Chairman and Chief Executive Gerard Mestrallet, and co-CEO Jean-Francois Cirelli, will be appointed to the helm of the company's Belgian unit, Electrabel, during the unit's board meeting Friday, Belgian business daily L'Echo reports Tuesday.

GDF Suez declined to comment.

-By Geraldine Amiel, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 10/3/2012 12:17

GDF Suez Allowed to Raise Gas Supply Charges 8%, Regulator Says
By Tara Patel - Mar 9, 2012 6:58 PM GMT+0100 .LinkedIn Google +1 Print QUEUEQ..A unit of GDF Suez SA (GSZ), operator of Europe's biggest natural-gas network, will be allowed to raise fees for distributing the fuel by 8 percent, the regulator said.

The increase by the GRDF unit, which sought an 18.4 percent jump, is applicable from July 1 and takes into account a drop in 2011 volumes and bolstering of network security, Commission de Regulation de l'Energie said in a ruling on its website.

It works out to a 2 percent increase in regulated rates for consumers using the fuel for home heating, said the regulator, which also oversees power charges. For the years to 2015, it will allow increases of 0.2 percentage points above inflation.

The gas rate, reviewed every four years, was increased by 5.6 percent from July 1, 2008.

GDF Suez, the monopoly for household gas supply in France until July 2007, plans to cut its share of profit from Europe amid the region's debt crisis, curbs on French regulated tariffs and Belgian taxes on nuclear power. The company is seeking to double sales of liquefied natural gas to emerging markets by 2020 as it expands into faster-growing economies.

To contact the reporter on this story: Tara Patel in Paris at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]

[waldron] 10/3/2012 07:50

GDF SUEZ : UBS passe à l'Achat

(AOF) - UBS a relevé sa recommandation de Neutre à Achat ainsi que son objectif de cours de 21 à 22 euros sur GDF Suez.

[grupo guitarlumber] 06/3/2012 17:41

International Power, Consortium Preferred Bidder For AZ Zour Project
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Intl Power (LSE:IPR)
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Today : Tuesday 6 March 2012
Independent electricity generating company International Power PLC (IPR.LN) and GDF SUEZ S.A (GSZ.FR), said Tuesday they have received preferred bidder notification, together with their consortium partners, from Kuwait's Partnerships Technical Bureau for the construction and operation of the Az Zour North Independent Water & Power Project.

MAIN FACTS:

-Following financial close, the consortium will construct a gas-fired combined cycle power plant of at least 1,500MW and an associated water desalination plant with a capacity of 102 to 107 MIGD--464 to 486 thousand m(3)/day.

-All of the plant's output will be purchased by the Kuwait Ministry of Electricity and Water under a 40-year long-term Energy Conversion and Water Purchase Agreement (ECWPA). The plant is expected to start commercial operation in 2015.

-The project is expected to be owned 10% by Kuwaiti public entities, 50% by Kuwaiti nationals, via an Initial Public Offering and 40% by the consortium, which is made up of International Power--17.5%, Sumitomo--17.5% and A.H. Al Sagar & Brothers--5%.

-The total project cost will be funded by a mix of project finance debt and equity in an 80:20 ratio.

-In addition, International Power and Sumitomo anticipate establishing on a 50:50 basis the operation & maintenance company for the Az Zour plant.

-The EPC contractors will be Hyundai Heavy Industries and SIDEM.

-International Power is 70% owned by GDF SUEZ

-International Power shares at 1406 GMT down 3 pence, or 0.7%, at 363 pence, valuing the company at GBP18.65 billion.

-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; [e-mail]