GDF Suez acquires the last of International Power for £6.8 billion

• 12 years ago (2012-04-16)
• Junior Isles

Africa 303 Asia 850 Australasia 51 Biomass 8 Climate change 20 Coal 275 Cogeneration 1 Concentrating solar 5 Cyber security 8 Decarbonisation 1 Decentralised energy 5 Demand side management 2 Demand side response 2 Digitalisation 10 Distributed energy 10 Distribution 108 Electric vehicles EVs 4 Emissions 58 Energy management 1 Equipment 2 Europe 1061 Gas 372 Gas engine plant 59 Gas fuel 1 Horizon 2 Hydroelectric 17 Hydrogen 53 Hydropower 112 Latin America 75 Maintenance 3 Marine 1 Metering 2 microgrid 5 Middle East 312 North America 998 Nuclear 640 Offshore wind 119 Oil 16 Operations 4 Policy 8 Regulations 3 Renewables 752 smart grid 2 Solar 245 Storage 37 substation 8 Tepco 2 Tidal 2 Toshiba 4 Transmission 181 US Senate Washington 4 Wind 239

---

French power company GDF Suez will acquire the last 30 per cent of British power firm International Power (IPR), taking full control of the company, for a further £6.8 billion.

The 418 pence per share offer values International Power at about £22.8 billion. GDF hopes its new acquisition will increase its exposure to fast-growing markets around the world while adding to the French group's earnings.

IPR had previously rejected a 390 pence per share preliminary approach by GDF which valued the company at £19.9 billion.

"IPR has leading positions in regions supported by steady energy demand such as South America, the Middle East, South-East Asia and Australia," GDF has said.

"The offer enables GDF Suez to take full control of a unique platform for development in fast growing countries, where the group intends to significantly increase its investments in the future," the company added.

IPR shareholders will be receiving a €0.066 dividend from the deal and its shares rose 3.3 per cent on news of the deal.

GDF acquired the first 70 per cent of IPR back in February 2011, then creating the world's largest independent power producer. It agreed not to bid for the remaining shares for a minimum of 18 months, an agreement which expires this August; though this can be overridden through agreement with the British group's independent non-executive directors.