M&A Activity • May 12, 2010
M&A Activity
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GDF SUEZ has announced its intention to exercise its option to buy a 49% stake of the gas and electricity trading company Gaselys1 , jointly owned by GDF SUEZ and Société Générale. Gaselys will thus become a wholly-owned GDF SUEZ subsidiary, devoted to become the matrix of its unified trading activities.
The Group also intends to merge its Gaselys and Electrabel trading desks1 . These entities today enjoy leading positions in the gas and electricity trading markets. The merger of the trading teams will strengthen GDF SUEZ ambitions in this area, benefiting from its successful partnership with Société Générale. The new combined trading platform will remain at its present dual sites in Paris and Brussels.
By 2011, this plan will lead to the creation of a European leader in natural gas and electricity trading, combining physical and financial products across a broad energy spectrum, including natural gas, electricity, oil and petroleum products, coal, and carbon credits. This activity is an essential link in the upstream and downstream energy chain, bringing innovative solutions to Group entities and customers in an increasingly complex, global gas and electricity environment where the markets play an indispensable role.
In the context of European energy market deregulation, Gaselys was created in 2001 by Gaz de France (51%) and Société Générale (49%). During these nearly 10 years, Gaselys grew steadily. As provided by the framework of the Gaselys shareholder pact, the two groups carried out a review of changes in their partnership. At the conclusion of the review, GDF SUEZ and Société Générale decided to pursue their energy trading activities and achieve their own goals independently.
Press contact: Tel France: +33 (0)1 57 04 24 35 Tel Belgium: +32 2 510 76 70 E-Mail: [email protected]
Investors Relations contact: Tel: +33 (0)1 57 04 66 29 E-Mail: [email protected]
GDF SUEZ CORPORATE HEADQUARTERS 22, rue du Docteur Lancereaux - 75392 Paris Cedex 08 - France Tel. +33 (0)1 57 04 00 00 GDF SUEZ - SA AU CAPITAL 2,260,976,267 EUROS - RCS PARIS 542 107 651 www.gdfsuez.com
1 Subject to consultations with employee representative bodies.
One of the leading energy providers in the world, GDF SUEZ is active across the entire energy value chain, in electricity and natural gas, upstream to downstream. It develops its businesses (energy, energy services and environment) around a responsible-growth model to take up the great challenges: responding to energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. GDF SUEZ relies on diversified supply sources as well as flexible and high-performance power generation in order to provide innovative energy solutions to individuals, cities and businesses. The Group employs 200,650 persons worldwide and achieved revenues of €79.9 billion in 2009. GDF SUEZ is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and ASPI Eurozone.
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