GDF Suez completes takeover of International Power

By Pierre Sookiew:GDF Suez (GDFZY.PK) is the world's largest independent power producer and operates liquefied natural gas facilities, energy efficiency services and environmental services. Present in over 60 countries, it employs roughly 219,000 people around the world, and had revenue of 90.7 billion euros ($120.2B) in 2011.

International Power said on Thursday it had received a non-binding offer from France's GDF Suez for the remaining 30 percent in the British company it does not own.GDF Suez offered 390 pence per share in cash valued International Power at £5.9 billion (7.9 billion euros, $9.4 billion). It has until the close of trading on the London Stock Exchange on April 26 to decide whether or not to formally launch its offer.Shares in International Power jumped 6.5 percent to 408.50 pence in afternoon trading, while GDF Suez's shares slumped 1.6 percent to 19.14 in Paris.

French energy giant GDF Suez on Saturday signed a deal to sell 2.6 million tonnes of liquefied natural gas to China between 2013 and 2016 as the energy-hungry nation steps up gas imports.The agreement was signed with China's overseas energy firm China National Offshore Oil Corporation (CNOOC) in the presence of GDF Suez's chairman, Gerard Mestrallet. No sale price was published.The contract "represents a major step for our presence in China's energy sector," said Mestrallet.It comes after GDF Suez made its first LNG delivery to Shanghai in August.

Toronto Dominion Bank (TD) announced Friday it has completed its takeover of Chrysler Financial Corp., positioning the Canadian bank as one of the top five auto lenders in North America."The completion of this transaction represents yet another important step in the ongoing expansion of our business," Tim Hockey, head of TD banking and insurance, said in a statement.

French utility group GDF Suez will take a 70-percent stake in British competitor International Power, the groups said Tuesday, creating what they called the world's top independent power company.GDF Suez will pay a dividend of 92 pence per share to International Power stakeholders for a total price of 1.4 billion pounds (1.68 billion euros, 2.2 billion dollars), the two groups said in a joint statement.The merger would create "the global leader in independent power generation," said the companies.

International Power said on Monday it had agreed to an improved multi-billion-pound bid from French energy giant GDF Suez for the 30 percent of the British company it does not own.GDF Suez, via it subsidiary Electrabel, has offered 418 pence per IP share, up from an initial bid of 390 pence, costing the French group £6.84 billion (8.32 billion euros, $10.83 billion), according to a joint statement.The amount values International Power at a total of 22.8 billion pounds.

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.

GDF Suez, the giant French utility, is bidding $9.5 billion for the 30 percent of the British utility International Power that it does not already own.