Canadian Manufacturing

Euro power deal creates $36-billion company

GDF Suez took over most of International Power last year, combining the French utility's assets in North America, Latin America and the Middle East with International Power.



PARIS—French gas and electric utility GDF Suez SA has agreed to complete its buyout of Britain’s International Power in an estimated $10-billion deal aimed at boosting its prospects in fast-growing countries.

GDF Suez said its board agreed to pay 418 pence per share for the 30 per cent of International Power it doesn’t already own, up from a previous offer of 390 pence rejected by International Power’s board two weeks ago.

GDF Suez took over most of International Power last year, combining the French utility’s assets in North America, Latin America and the Middle East with International Power.

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