GDF Suez to acquire British group International Power

10th August 2010, Comments 0 comments

French energy group GDF Suez will acquire 70 percent of its British competitor International Power, the two groups announced in a joint statement Tuesday.

GDF Suez will pay a dividend of 92 pence per share to IP stakeholders for a total price of 1.4 billion pounds (1.68 billion euros, 2.2 billion dollars).

The merger would create "the world's leader in independent energy production," the two groups said in their statement.

The announcement came as GDF Suez reported its first-half results of a net profit of 3.6 billion euros, up 9.3 percent on a year earlier, due mainly to a particularly cold winter, the company said in a statement.

© 2010 AFP

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