The French energy group GDF Suez will acquire the British competitor International Power, as stated in a joint announcement by the two companies on Tuesday.
GDF Suez, which operates in the Middle East, Asia, and Latin America, will thus become the owner of a 70% stake in International Power. GDF specializes in gas and energy production, while International Power manages power plants around the world. The new company, which will encompass 45 power plants of International Power and GDF’s international assets, will continue to have listed shares on the London Stock Exchange, with GDF as the majority shareholder. GDF will pay a special dividend of 92 pence ($1.45) per share, totaling £1.4 billion ($2.2 billion) to the shareholders of International Power, the announcement further states. (H)
