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A public consortium comprising CNP Assurances, CDC Infrastructure and
Caisse des Dépôts is in advanced discussions with GDF SUEZ to forge a long-term
partnership in the natural gas transportation industry in France and the rest of
Europe. To
this end, the consortium would acquire a 25% minority interest in GRTgaz for
€1.1 billion.
“The decision to acquire an interest in GRTgaz is aligned with CNP
Assurances’s long-term investment strategy,” said Gilles Benoist, Chief
Executive Officer of CNP Assurances.”This strategic investment in a regulated
business will create value for our customers while also providing a source of
regular income.”
GDF SUEZ’s employee representatives will be consulted about the
plan, a process that could be completed by the
second half of 2011.
The consortium intends to support GRTgaz’s development plan for the
next ten years, at a time when Europe has major
infrastructure needs. The consortium’s backing
will allow GRTgaz to expand its business beyond France by acquiring GDF SUEZ’s stakes in other
European natural gas transportation companies, including GRTgaz Deutschland GmbH
and MEGAL GmbH in Germany and
BOG GmbH in Austria.
About GDF SUEZ
GDF SUEZ develops its businesses around a model based on responsible
growth to take up today’s major energy and environmental challenges: meeting
energy needs, ensuring the security of supply, fighting against climate change
and maximizing the use of resources.
About the public consortium
France’s leading personal insurer, CNP Assurances designs, develops and
manages life insurance contracts that are distributed through a variety of
partners, including major banking networks, financial institutions and mutual
insurers.
As a public financial institution, Caisse des Dépôts is a long-term
investor serving the public interest and France’s
economic development.
CDC Infrastructure is a subsidiary of Caisse des Dépôts set up to
invest in the infrastructure sector.
Download the press
release (PDF format)
Press
Relations
Florence de
Montmarin
Tel : +33
(0)1 42 18 86 51
Tamara Bernard
Tel : +33 (0)1 42 18 86
19
E-mail : servicepresse@cnp.fr
Investor and Analyst
Relations
Jim Root
Tel : +33 (0)1 42 18 71 89
Annabelle
Beugin-Soulon
Tel : +33 (0)1 42 18 83 66
E-mail : infofi@cnp.fr
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