GDF SUEZ announces agreement to sell its 24.5% stake in Slovak gas company SPP
PR Newswire/Les Echos/
January 15, 2013 GDF SUEZ announces agreement to sell its 24.5% stake in Slovak gas company SPP GDF SUEZ and E.ON have signed an agreement with Energetický a Průmyslový Holding (EPH), a leading Czech power market player, for the sale of their combined 49% indirect stake in Slovenský Plynárenský Priemysel a. s. (SPP), the Slovak gas operator. This participation has been held through a 50/50 joint venture between GDF SUEZ and E.ON since the 2002 partial privatization procedure. EPH will acquire 100% of the share capital of this joint venture. The agreement values the GDF SUEZ 24.5% stake in SPP at EUR1.3 billion. This transaction will reduce GDF SUEZ net debt by some EUR1.3 billion(1) and represents an important milestone in the Group's ongoing transformation following the completion of the International Power transaction. Disposals announced since the beginning of 2012 as part of the Group's portfolio optimization program total more than EUR5 billion, in line with the objective announced in December. The objective of the new GDF SUEZ asset optimization program for the period 2013-2014 amounts to EUR11 billion. The sale has been approved by the Slovak State and has received all necessary antitrust clearances. Closing is expected in the coming weeks. Jean-François Cirelli, Vice Chairman and President of GDF SUEZ declared: "The disposal of our interest in SPP is a significant further step in our deleveraging strategy, and a move consistent with our goal to optimize our European portfolio of activities. We will pursue our development in Europe, focusing on a selection of attractive markets." About GDF SUEZ GDF SUEZ develops its businesses around a model based on responsible growth to take up today's major energy and environmental challenges: meeting energy needs, ensuring the security of supply, combating climate change and optimizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 218,900 people worldwide and achieved revenues of EUR90.7 billion in 2011. The Group is listed on the Brussels and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone and ECPI Ethical Index EMU. Press contact: Investor Relations contact: Tel France: +33 (0)1 44 22 24 35 Tel: +33 (0)1 44 22 66 29 Tel Belgium: +32 2 510 76 70 E-Mail: firstname.lastname@example.org E-Mail: email@example.com @gdfsuez (1) Of which EUR0.1 billion in 2015. GDF SUEZ CORPORATE HEADQUARTERS Tour T1 - 1 place Samuel de Champlain - Faubourg de l'Arche - 92930 Paris La Défense cedex - France Tel. +33 (0)1 44 22 00 00 GDF SUEZ - SA WITH CAPITAL OF EUR2,408,353,823 - RCS NANTERRE 542 107 651 www.gdfsuez.com
The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. Whilst every effort is made to ensure the accuracy of our services, such releases are not actively monitored or reviewed by PR Newswire or its partners and under no circumstances shall PR Newswire or its partners be liable for any loss or damage resulting from the use of such information. All information should be checked prior to publication.
-0- Jan/15/2013 11:26 GMT