GDF Leads Utility Charge Out of Europe

摘要

French utility GDF Suez last week underlined the importance of emerging market growth outside stagnating Europe by agreeing a ￡6.4 billion ($10.3 billion) cash offer for the 30% it doesn't already own in UK-listed International Power (IP), the global power generator in which GDF took 70% control in late 2010 (EOF Dec.22' 10). The deal — roughly ￡400 million more than a previous offer rejected by the IP board on Apr. 4 — cements GDF Suez ambitions for gas-fired generation, with roughly 60% of the IP operational fleet plus a sizeable chunk of its development portfolio being gas-fired.