GDF agrees with Publigas to sell its 38.5% in Fluxys
March 24, 2010 – 11:54 amGDF Suez announced having reached an agreement to sell the Belgian Publigas the 38.5% it holds in Fluxys through its subsidiary Electrabel, amounting to 636 million euros.
In a statement, GDF Suez said that following the transaction group of public utilities Publigas hold 89.97% in Fluxys.GDF Suez has meanwhile completely out of the capital of Fluxys.
"The details of the agreement will be finalized soon in order to enable its ratification by the parties in the coming weeks," said GDF Suez.
In March 2009, Publigas had expressed its intention to take majority stake in Fluxys.
To comply with European competition, the French group was forced by the European Commission to cede control of Fluxys.
Around 9:50, the action GDF Suez rose by 0.27% to 27.835 euros. She dropped 8.3% since the beginning of the year.
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