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GDF To Sell €1.1B French Gas Grid Stake

CNP Assurances, CDC Infrastructure and Caisse des Depots have partnered to buy a stake in GDF Suez’s French gas grid.

CNP Assurances, CDC Infrastructure and Caisse des Depots have partnered to buy a stake in GDF Suez’s French gas grid. The consortium has offered €1.1 billion to acquire a 25% minority interest in GRTgaz.

GDF Suez appointed BNP Paribas and Rothschild to advise it on the deal, while CDC and CNP hired Nomura as an adviser, adds Reuters. GDF Suez finalized the purchase of a 70% stake in Britain’s International Power following an asset swap deal earlier this year.

Click here for the release from PR Newswire.

Click here for additional coverage from Reuters.

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