Engie Power-Plant Asset Sales to Cut Net Debt by $6.1 BillionBy
Engie SA, the French energy company formerly known as GDF Suez SA, said the sale of power-generation assets will allow it to reduce net debt by 5.5 billion euros ($6.1 billion).
The assets include 10 gigawatts exposed to commodity prices in the U.S. and two coal-fired plants in India and Indonesia, the company said in an e-mailed statement Thursday. Engie said earlier Thursday it will cut dividends from 2017 and sell as much as 15 billion euros ($16.5 billion) of assets by 2018 as earnings are dented by falling energy prices.
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