International Power set to complete sales negotiations with GDF
French energy firm offers £1.3bn dividend to International Power's shareholders
British electricity firm International Power (IP) is set to
complete sales negotiations with GDF Suez.
The French company is close to agreeing a takeover of its rival
in a deal which would create one of the world's largest independent
Talks began last month over an agreement which would see EDF
take a majority stake in IP in return for some of its non-European
Business negotiations had stalled as IP's shareholders were
looking to gain a special dividend in return for their support.
Should a deal be reached, it is believed the British firm's
shareholders will receive a windfall of around £1.3 billion.
IP supplies electricity to four million British households while
GDF is the tenth-largest energy provider in the world.
The deal may be confirmed tomorrow (August 10th) as both
companies will convene for their half-yearly results