| Add RSS Feed

28 August 2007 - Suez has sent Nicolas Sarkozy an ultimatum that places the burden to resolve the impasse over valuation that has stalled its merger with state-owned Gaz de France squarely on the government, the Financial Times reported.

In a letter to the French president, Suez chairman Gerard Mestrallet proposes that the government transfer the shares it holds in Suez through various state entities to GdF.

This would increase the value of GdF and avoid the need to compensate the private groups shareholders for the gap in the two companies valuations.

But in July, Sarkozy told Mestrallet that he would not approve the merger unless the state held 40 per cent of the enlarged company. This was rejected outright by Suez.

In his letter, Mestrallet is understood to have stressed that if an agreement cannot be reached before the end of the week, Suez would have to consider other options, the FT added.

| Add RSS Feed

---

More Industry News Articles >

Search Archives >

Power Engineering Article Categories:

Business		Projects/Contracts
Industry News		Deregulation
Environmental		Русский язык
Power Generation Young Professionals		Honeywell Automation & Control Solutions
HoneyWell Press Releases		HoneyWell Product Information
Power Engineering International Current Issue Table of Contents
Power Engineering Current Issue Table of Contents
Potencia Current Issue Table of Contents
Nuclear Power International Current Issue Table of Contents
Middle East Energy Current Issue Table of Contents

---

Search Products Buyer's Guide >

Search Industry Jobs >

Magazine & E-Newsletter Subscriptions >