GDF buys up rest of British power company
AFP · 16 Apr 2012, 11:46
Published: 16 Apr 2012 11:46 GMT+02:00
GDF Suez, via it subsidiary Electrabel, has offered 418 pence per IP share, up from an initial bid of 390 pence, costing the French group £6.84 billion (€8.32 billion, $10.83 billion), according to a joint statement.
GDF Suez last year bought a majority stake in International Power, which owns 45 electric power plants worldwide.
"The acquisition of the minority stake in International Power, based on strict financial discipline, constitutes a major step in the development of" GDF Suez, the French group's chief executive Gerard Mestrallet said in the statement.
"It will allow the group to fully capture growth in fast growing markets."