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The government of France has agreed on privatization of Gaz de France

20 December 2007
Written by: webmaster Posted under Corporations

Already in the near future already in the near future French power company Gaz de France can be transferred in private hands. The corresponding decree is published by the government of the country.
Now the percent of the state shares in Gaz de France makes approximately 80 %. Perspective alterations have been brought in the French legislation respective alterations have been brought in the French legislation for transfer of actives of the company to private hands and decrease in the state share up to 50 % in 2006.
The decision on privatization will actually give green light to realization for the long time planned transaction on merge of Gaz de France with power company Suez S.A.
Let’s remind, that in September, 2007, Suez and Gaz de France have declared about their merge. Shares of these companies will be converted in the ratio of 0,9545 to 1, i.e. 21 Gaz de France share will be covered into 22 Suez shares. Besides, on according to the terms of transaction Suez will sell 65 % of hydro actives by their accommodation in the share market. The governments of France will posses more than 35 % of shares of the incorporated company which will refer to GDF Suez.
Final operations of transaction, approved by boards of directors of both companies, are planned on 2008.
Suez is one of the largest private power companies of France. The basic field of activity relies in granting of municipal services in sphere of power-, gas-and water supply.
Gaz de France - is the leading European state fuel and energy company. The basic field of activity relies in natural gas transportation and realization.




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