International Power set to complete sales negotiations with GDF
French energy firm offers £1.3bn dividend to International Power's shareholders
09 August 2010
British electricity firm International Power (IP) is set to
complete sales negotiations with GDF Suez.
The French company is close to agreeing a takeover of its rival
in a deal which would create one of the world's largest independent
energy companies.
Talks began last month over an agreement which would see EDF
take a majority stake in IP in return for some of its non-European
assets.
Business negotiations had stalled as IP's shareholders were
looking to gain a special dividend in return for their support.
Should a deal be reached, it is believed the British firm's
shareholders will receive a windfall of around £1.3 billion.
IP supplies electricity to four million British households while
GDF is the tenth-largest energy provider in the world.
The deal may be confirmed tomorrow (August 10th) as both
companies will convene for their half-yearly results
presentations.