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GDF Suez Buys International Power For £1.4B

French energy company, GDF Suez, has acquired International Power for about £1.4 billion.

French energy company, GDF Suez, has acquired International Power for about£1.4 billion, AFP reports. Dirk Beeuwsaert has been appointed the new Chairman of International Power, while Neville Simms will be the deputy chairman.

GDF Suez will combine its assets in North America, Latin America and the Middle East with International Power to create a new company, adds Bloomberg. GDF Suez will own 70% of the new company, while the remaining 30% will be held by the U.K. utility’s existing shareholders.

Click here for the story from AFP.

Click here for the additional coverage from Bloomberg.

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