Wednesday, November 15, 2006

EU OKs GdF-Suez Merger

AP via The New York Times:
European Union regulators cleared the $52 billion combination of Suez and Gaz de France after they agreed to sell Belgian units to avoid monopoly control of that country’s gas and electricity market. Suez, a waste and water services company, agreed in February to be acquired by the natural gas distributor Gaz de France in a stock swap. Both companies are based in France. Sabine Wacquez, a spokeswoman for Gaz de France, said the companies would seek shareholders’ approval for the deal before year-end.