GDF Suez close to International Power takeover: report

8th August 2010, Comments 0 comments

French energy giant GDF Suez said is close to concluding a takeover of its British competitor International Power, The Sunday Times newspaper said.

Investors in International Power could be in line for a 1.3-billion-pound (2.1-billion-dollar, 1.6-billion-euro) windfall, the report said.

The broadsheet said International Power directors would meet on Monday to recommend the deal, with the aim of unveiling the transaction on Tuesday, when both companies announce their half-yearly earnings.

GDF Suez confirmed on July 19 that it was in new talks on a possible merger with International Power, after a first offer failed earlier this year.

International Power has interests in 45 power stations around the world and owns six power plants in Britain.

Both companies declined to comment when contacted by AFP.

© 2010 AFP

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