News Column

France raises Alstom cash

June 25, 2014

GEERT DE CLERCQ



FRANCE yesterday agreed to sell a 3.1 per cent stake in gas utility GDF Suez, and could sell as much as 3.6 per cent to finance the acquisition of a state participation in engineering group Alstom.


The finance and economy ministries said in a joint statement the state, via public holding firm APE, had agreed to sell 75m GDF Suez shares and had an overallotment option to sell as many as 86m shares in an accelerated institutional placement.


Based on yesterday's 20.81 closing price, the operation would yield the state between 1.56bn and 1.79bn (1.25bn-1.43bn).


Reuters


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Source: City A.M. (UK)


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