The GDF SUEZ Group and Publigas agree on the transfer of the participation Electrabel S.A. holds in Fluxys , GDF Suez

Release Date: 2010-03-24

GDF SUEZ Group and Publigas have reached an agreement on the transfer of the participation Electrabel S.A. holds in Fluxys (38.50%). The 270 530 shares will be ceded at the price of € 2 350 per share for a total amount of 636 million euros. After this transaction, the participation of Publigas in Fluxys will be brought to 89,97 %, while the Group GDF SUEZ will completely step out of the capital of this company

The agreement foresees also the transfer of GDF SUEZ’s participation in Fluxys LNG to Fluxys and the handover of its participation in the Interconnector to a subsidiary of Fluxys. Finally, GDF SUEZ will be totally exempt of the guaranties accorded to Fluxys concerning transit in June 2008, when this last one acquired Distrigas & Co; Publigas will fully take up these guaranties.

The details of this agreement will soon be finalized to allow its ratification by the parties in the next weeks.

Type:	NORMAL
Company:	GDF Suez
Country:	France