French energy company, GDF Suez, has received approval from the European Commission for its merger with International Power, The Wall Street Journal reports. The Commission has applied the condition that the companies will sell International Power’s stake in Belgian power plant owner, T-Power.
As part of the deal, the merged entity will have to transfer its operation and maintenance agreement with T-Power to third parties. GDF Suez will have a 70% stake in the newly merged group, adds Reuters.
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