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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Intl Power | LSE:IPR | London | Ordinary Share | GB0006320161 | ORD 50P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 417.50 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 417.50 | GBX |
Intl Power (IPR) Share Charts1 Year Intl Power Chart |
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1 Month Intl Power Chart |
Intraday Intl Power Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 28/6/2012 | 07:41 | *** International Power *** | 1,294 |
| 11/2/2011 | 14:36 | International Power | 4 |
| 14/12/2009 | 23:32 | Race to the FTSE100 | 524 |
| 09/11/2009 | 22:38 | Inca Pacific | 1 |
| 31/12/2008 | 12:26 | Best avoided, says the Telegraph | 15 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 28/6/2012 07:41 by waldron International Power's shares suspended By Benjamin Chiou Thu 28 Jun 2012 IPR - International Power Latest Prices Name Price % International Power 417.50p 0.00% FTSE 100 5,524 0.00% FTSE 350 2,928 0.00% FTSE All-Share 2,863 0.00% Gas, Water & Multiutilities 5,080 0.00% LONDON (SHARECAST) - Shares of energy giant International Power (IPR) were suspended from trading on the London Stock Exchange (LSE) on Thursday morning as its takeover by parent company GDF SUEZ faced delays. On April 16th, the companies announced that they had reached agreement on terms of a recommended cash offer for the remaining shares of IPR. This is to be effected by means of a court-sanctioned scheme of arrangement. "Pursuant to the terms of the Scheme and Listing Rules 5.1 and 5.3, IPR announces that the listing of the IPR Shares on the Official List and trading of the IPR Shares on the London Stock Exchange has been suspended, effective from 07.00 today," the company said in a statement. The court hearing to sanction the scheme and confirm the associated capital reduction was scheduled for yesterday and was expected to become effective today. However, the cancellation of the listing of the IPR shares on the official list in London and admission to trading of the IPR shares on the LSE did not take place and is now expected to take place by no later than 08:00 on July 2nd. |
Posted at 16/4/2012 17:55 by waldron 3rdUPDATE:GDF Suez,International Power Settle Over Higher Price Share this article PrintAlert Gdf Suez (EU:GSZ) Intraday Stock Chart Today : Monday 16 April 2012 PARIS (Dow Jones) -- GDF Suez SA (GSZ.FR) and the independent directors of International Power PLC (IPR.LN) said Monday they settled on a cash offer at 418 pence for each International Power share the French utility doesn't own, well above the 390 pence GDF Suez initially indicated it would be willing to pay, putting an end to a three-week standoff and sealing the second biggest M&A transaction of the year. The cash offer values the U.K.-based power distributor--of which GDF Suez bought 70% in February, 2011--at GBP22.8 billion, up from around GBP19.9 billion at the previous indicative price. Taking full control of International Power is at the heart of the French utility's strategy of increasing its exposure to booming emerging markets. By doing so, it will help to offset its slower performance in more mature markets such as France and the rest of Europe, where GDF Suez faces economic headwinds from the euro zone's sovereign-debt crisis and political risk stemming from the French government's strong involvement in the energy sector. The deal's impact on GDF Suez's net debt is EUR 8.4 billion, as GDF Suez will pay EUR7.7 billion in cash and take on a bit more than EUR600 million of International Power debt. As the group will get also some IPR convertible bonds, and pay them in cash, it could have to pay an additional EUR1.8 billion, the group's Chief Financial officer Isabelle Kocher said during a press conference. International Power shareholders will still be able to receive the group's 2011 final dividend of 6.6 euro cents per share. ""The acquisition of the minority stake in International Power, based on a strict financial discipline, constitutes a major step in the development of the group. It will allow the Group to fully capture growth in fast growing markets," GDF Suez's Chairman and Chief Executive Gerard Mestrallet said, noting that the deal is the second biggest M&A transaction after this year commodities trader Glencore PLC's (GLEN.LN) $37 billion takeover of miner Xstrata PLC (XTA.LN). The move puts an end to a three-week standoff, after some International Power shareholders rejected the initial non-binding approach from GDF Suez, which they considered to be "undervaluing" International Power. GDF Suez at one point even threatened to simply drop any tentative approach. GDF Suez and International Power agreed last year that if GDF Suez would seek to buy minorities out before Aug. 3, 2012, the approval of the independent directors would be mandatory. The recommendation is the first step and makes the offer a formal one, whereas the previously mentioned price was only indicative. The official scheme document will be sent to shareholders before May 14, and the offer will be put to shareholders by June during a general shareholders' meeting. The deal is expected to be finalized by mid-July. The initial reaction from IPR's minority shareholders has been quite positive, Kocher said, echoing comments by an advising banker. "People from International Power would have probably liked a higher price while (GDF Suez Chairman and Chief Executive Gerard) Mestrallet would have of course liked to pay a little less," the banker said, under conditions of anonymity. The new price "is high but it is not extravagant," he added and all parties are confident that the transaction will proceed smoothly. The price represents a 20.8% premium since Feb.29, "the last business day before press and market speculation intensified that GDF Suez would make an offer for International Power," GDF Suez and International Power's independent directors said. By mid-afternoon, shares in GDF Suez were trading around 3% higher at EUR18.48 while the CAC-40 benchmark index was up 0.6%. Shares in International Power were up about 3x%, or 12.9 pence, at 416.8 pence, while the FTSE 100 was down around 0.4%. "This deal is broadly value neutral for GDF Suez, but strategically positive for the group," Canaccord Genuity analysts said. "For GDF Suez, we also believe this deal is consistent with the company retaining its 'A' credit rating and with it continuing to be able to maintain its EUR1.5 per share dividend." They rate GDF Suez at buy. GDF Suez now expects its net recurring profit group share for 2012 to be around EUR3.7 billion to EUR4.2 billion, up from an initial objective of EUR3.5 billion to EUR4 billion, . The French utility will finance a third of the cash offer from its own equity, as it offered to pay part of the 2011 and the 2012 dividends in GDF Suez shares instead of cash. It has also increased its divestiture program and now plans to sell an additional EUR3 billion worth of assets, from an initial objective of EUR10 billion in disposals. Most of the assets to be sold will be in mature markets, such as the U.S., Kocher said. Yet the group won't sell assets in France and Belgium, its historical markets. It intends to retain its controlling share of more than 35% in waste and water utility Suez Environnement Sa (SEV.FR), she also said. 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 said. - By Geraldine Amiel, Dow Jones Newswires; +33 1 40171767; geraldine.amiel@dowj |
Posted at 05/4/2012 21:18 by waldron GDF Suez Likely To Sweeten Bid For International Power- Source Share this article PrintAlert Gdf Suez (EU:GSZ) Intraday Stock Chart 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; +33 1 4017 1740; geraldine.amiel@dowj |
Posted at 04/4/2012 09:27 by waldron UPDATE: GDF Suez: May Withdraw GBP6 Billion Bid For International Power Share this article PrintAlert Gdf Suez (EU:GSZ) Intraday Stock Chart 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 +44 207 842 9262; selina.williams@dowj |
Posted at 02/4/2012 21:44 by waldron Statement re dividend Share this article PrintAlert 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. |
Posted at 19/2/2012 12:32 by jacks13 From what I can recall the initial approach from GDF in January 2010 involved a cobbling together of IPR's then assets with some of GDF's assets in exchange for GDF Suez acquiring a majority stake in the enlarged group.GDF had lots of cash but were unwilling to stump that up at the time. They were presumably very risk averse and the bid was complicated by some political considerations, the French state owning about a third of the shares of GDF Suez. The offer was very opaque, to us on the outside at least, and it failed because agreement presumably couldn't be reached on the respective valuations of the IPR and GDF Suez assets that were to be pooled. It was a cashless/shareless offer and was probably opportunistic on the part of GDF Suez. Anyway they came back as we now know with a cash sweetener of 92p/sh and IPR shareholders did get to keep their diluted shareholdings in the enlarged group. A takeout price in the region of 450p was being mooted by analysts at the time on the basis of a conventional 100% cash offer, so all else being equal (which they're not) the current take-out share price would be 360p. I'm not saying that that is a sensible way to value the new company but it might be a ruse deployed by GDF Suez advisers in any potential offer for the minority shares, after all no one else will be joining in the bidding. There was chatter amongst analysts during the 2010 merger that GDF Suez would be back within two to three years and as I understand it the two year anniversary is triggered on 17 July 2012, that being the end of the two year closed period. There is bound to be speculation, verbal and financial, in the coming months but as it is not in the interests of the majority holder to see the share price bid up I don't expect either GDF Suez or the management of IPR to be putting any fuel on the fire. |
Posted at 27/4/2011 15:15 by shauney2 From BarclaysEquities Daily Todays focus: International Power Reiterate Accumulate We recently upgraded our recommendation on the Utilities sector, in the light of stronger power prices, sustained yields, and political risk better reflected in valuations. In the UK, our favourite name remains International Power. After a strong run last year, the shares paused for breath over the past couple of months. But we believe the upcoming Interim Management Statement tomorrow will refocus investors on the group's ongoing projects and superior growth prospects. The company targets to add to its existing 66,000MW fleet another 22,000MW by 2013, while maintaining a good balance in terms of fuel (gas, oil, coal, renewable). Financing should also be easier post combination with GDF Suez, with the group's credit rating now lifted to investment grade. A well diversified presence in the UK, America, Middle East and Australia should give the group the opportunity to benefit from the recovery of global power prices. The part of the output sold via contracts should limit downside risk. With the new entity, management is forecasting financing synergies of £61million, and operating synergies of around £104 million, which should support earnings growth rates towards the top end of the European utility sector. As project execution unfolds and synergies are realised, we see further upside to the current IPR share price, and our fair value for the stock is 400p. |
Posted at 18/11/2010 12:03 by jeddicat jeffian - I am not sure that I understand you post? (above).I know what you are saying, but as I think I read it, the total cost of the 'dividend' (c92p - dependant on the exchange rate on the day)is deffinately coming from GDF on transfer, in fact he actual figure was given but I do not recall it. Another point, how does it benefit the company by reducing, and I am not familier with how they actually 'reduce' the sp, the share price After all surely all it does is give stock holders a paper loss and reduces the Capital value, again on paper?? I would be very grateful if you could help me out here? Fiinally, I may be wrong, but I think the last time I looked at GDF their share price was euro 27, now I assume that share price will dissapear along with GDF Suez. But they will own 70% of IPR. How will this be done, will they calculate by dividing IPR's share price on a given date/time into GDF's closing share price (say euro 27) and then allowcate that number of IPR shares to the old GDF shareholders, etc?? Because if the above is the case, then they will be creating 'dilution' of say 92p to all their own shareholders?? Thank you in advance for your views. David (Ex Forces Novice) |
Posted at 15/11/2010 08:39 by jeddicat 12/11/10. (Friday)S&P Research raises IPR share price to 430p from 372p! |
Posted at 10/8/2010 14:04 by shauney2 From Barclays Wealth.International Power- Reverse takeover: better terms than expected Event: Following last month's announcement that discussions were taking place, International Power (IPR) and GDF Suez announced they have entered into a Memorandum of Understanding to combine IPR with the International assets of GDF Suez. This is effectively a reverse takeover of IPR, whereby IPR shareholders will receive a special dividend from GDF of 92p in cash and GDF Suez international assets will be transferred to IPR, along with some debt. Shareholders on IPR's register just prior to close (expected at the end of this year/ beginning of next) will be eligible to receive the dividend. Ownership of the new entity will be split 70/30 for GDF/IPR and the combined group will continue to be listed. The companies expect £165 million of synergies per year 5% of the combined EBITDA, of which 75% should be achieved from year 2. The CEO of the combined group will be IPR's CEO Philip Cox, the chairman Dirk Beeussart, vice-president in charge of GDF's international arm. The dividend policy will be same as IPR's, i.e. a 40% payout. IPR s board will be recommending the deal, which will be submitted to a shareholders vote. BW View: The terms are generally better than market expectations: the 92p dividend, which is effectively the control premium, implies a 25% yield and is at the top end of expectations. The synergies also seem to be higher and to come through faster than what most brokers had although there is still very little detail at this stage. There was no surprise in terms of management. We think this deal makes a lot of sense from a strategic point of view. The two sets of assets show a good geographic overlap, with a good balance in terms of fuel mix and solid growth pipeline. Also IPR would get access to a better balance sheet and lower cost of debt and GDF Suez should benefit from a better visibility on the value of its international portfolio. We do not expect any counterbid and IPR's main shareholder Invesco has already said they are supporting the deal. There are still few details provided but first "back of the envelope" calculations would suggest a price for the new IPR of around 400p (including the special dividend). As the shares had already rallied over the past few weeks, this is only 9% above yesterday's closing share price, hence some profit taking this morning. A conference call is taking place this morning. We will be reviewing our recommendation after we get more data. |
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