EDF : TIGF : Total enters into exclusive negotiations with the Consortium constituted by EDF, SNAM and GIC

  EDF : TIGF : Total enters into exclusive negotiations with the Consortium
                       constituted by EDF, SNAM and GIC

           05 February 2013

TIGF : Total enters into exclusive negotiations with the Consortium
constituted by EDF, SNAM and GIC

EDF, Snam  and GIC  announce that  Total has  agreed to  enter into  exclusive 
negotiations  with  their  Consortium  for  the  acquisition  of  Total's  gas 
transport and storage  business -TIGF- in  South-West France. The  consortium, 
constituted by Snam,  the Italian  gas transport and  storage operator  (45%), 
GIC, the Singaporean sovereign fund (35%) and EDF (20%, through its  dedicated 
assets  fund  [for   the  dismantling   of  nuclear   pants]),  represents   a 
well-balanced mix between industrial expertise and financial capabilities. The
Consortium's offer to Total reflects an  enterprise value of Euro 2.4  billion 
for TIGF.

Based in  Pau and  locally  managed, TIGF  (Transport et  Infrastructures  Gaz 
France) employs over  500 persons,  with a  gas pipeline  network that  covers 
France's South-West region and  two important gas  storage sites in  Lussagnet 
and Izaute.

Speaking on  behalf  of  the  Consortium, Thomas  Piquemal,  Member  of  EDF's 
Executive Committee and Group  CFO, and Carlo  Malacarne, Snam's CEO,  stated: 
"The Consortium greatly looks forward to  meeting in Pau with TIGF's  employee 
representatives to present its  plans for the support  and the development  of 
TIGF. We want to  share our vision  for a strong  TIGF and for  its role as  a 
leading gas infrastructure located at the heart of the European network." 

Total will now start consultations with TIGF's employee representative  bodies 
regarding the Consortium offer. These  consultations will be completed  before 
the finalisation of any definitive agreement.




Patrizia Rutigliano : +39 023 7037397
Delphine Lacroix :+331 82 15 02 81



Carole Trivi & Alison Marquilly +33 (0)1 40 42 46 37
Analysts and Investors:
Carine de Boissezon +33 (1) 40 42 45 53
David Newhouse (US investors) +33 (1) 40 42 32 45


Jennifer Lewis - (65) 6889 8383
E-mail: jenniferlewis@gic.com.sg


The EDF  Group, one  of  the leaders  in the  European  energy market,  is  an 
integrated energy company  active in  all areas of  the business:  generation, 
transmission, distribution,  energy  supply  and trading.  The  Group  is  the 
leading electricity producer in Europe. In  France, it has mainly nuclear  and 
hydraulic production  facilities  where 96.5%  of  the electricity  output  is 
EDF's transmission and distribution  subsidiaries in France operate  1,285,000 
km of low and  medium voltage overhead and  underground electricity lines  and 
around 100,000  km  of high  and  very high  voltage  networks. The  Group  is 
involved in  supplying  energy  and services  to  approximately  27.9  million 
customers in France. The Group  generated consolidated sales of €65.3  billion 
in 2011, of which 43.1%  outside of France. EDF is  listed on the Paris  Stock 
Exchange and is a member of the CAC 40 index.

Listed on the Milan Stock Exchange,  Snam is Europe's leading operator in  the 
construction and integrated management of gas infrastructures, and one of  the 
major players in terms of invested capital for regulatory purposes  (regulated 
asset base, or RAB). With over 6,000 people, Snam is active in transportation,
regasification, storage and distribution of natural gas through four operating
companies: Snam Rete Gas (transmission and dispatching), Stogit (storage), Gnl
Italia (regasification), and Italgas (distribution).

The Government of Singapore Investment Corporation Pte Ltd ("GIC") is a global
investment management  company  established  in  1981  to  manage  Singapore's 
foreign reserves. GIC invests internationally in equities, fixed income, money
markets,  alternative   investments,   real   estate,   private   equity   and 
infrastructure. GIC has grown from managing a few billion dollars to  managing 
well above $100  billion today  and is now  amongst the  world's largest  fund 
management companies. GIC's  infrastructure portfolio is  focused on  minority 
equity stakes  in  power  generation,  transmission  and  distribution,  water 
utilities, and  also  in  transport  assets such  as  airports,  seaports  and 
highways. GIC  strives  to achieve  good  long-term returns  on  assets  under 
management,  to   preserve  and   enhance  Singapore's   reserves.  For   more 
information, visit www.gic.com.sg.

TIGF : Total enters into exclusive negotiations with EDF consortium


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