Combination of International Power plc ("International Power") and GDF SUEZ Energy International , GDF Suez

Release Date: 2010-08-10

The Boards of GDF SUEZ SA ("GDF SUEZ") and International Power plc (“International Power”) have entered into a Memorandum of Understanding (“MoU”) detailing the terms and conditions of the proposed combination of International Power and GDF SUEZ’s Energy International Business Areas (outside Europe) and certain assets in the UK and Turkey5 (collectively "GDF SUEZ Energy International") (the “Combination”).
The proposed Combination, as set out in the MoU, will take the form of a contribution of GDF SUEZ Energy International into International Power in exchange for newly issued International Power shares in order to create an enlarged International Power (“New International Power”) which will be listed on the Official List of the Financial Services Authority (“Official List”) and traded on the Main Market of the London Stock Exchange. Following completion of the Combination, International Power shareholders will own 30 per cent of New International Power and GDF SUEZ will own 70 per cent6. International Power shareholders will also become entitled to a cash payment of 92 pence per share following completion by way of a special dividend. GDF SUEZ Energy International will be transferred to International Power with €4.4 billion7 (£3.7 billion8) of net financial debt as at 30 June 2010.

The Boards of GDF SUEZ and International Power believe that the Combination will offer significant benefits for both sets of shareholders, customers and employees, reflecting the compelling industrial logic of the transaction and the excellent geographic and operational fit between both businesses. New International Power will be the global leader in independent power generation, with significantly enhanced growth prospects from a pipeline of committed projects and attractive further opportunities in high growth markets. GDF SUEZ’s position as a global leader in power generation and gas will also be strengthened with a greater presence in international growth markets. The creation of New International Power is expected to deliver immediate and long term value to shareholders of both GDF SUEZ and International Power.
Type: NORMAL
Company: GDF Suez
Country: 法国
 
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