 Gaz de France Merger with SuezB. Rajesh Kumar
Chapter 31 in Wealth Creation in the World’s Largest Mergers and Acquisitions, 2019, pp 271-275 from Springer Abstract: Abstract On July 16, 2007, Gaz de France (GDF) was acquired by ENGIE SA in a reverse merger deal. On September 3, 2007, European giant Gaz de France and Suez made the announcement to merge in a €70 billion (£47 billion) deal which created the world’s fourth largest energy company. This merger created Europe’s second largest electricity and gas group. The merger was engineered as a part of a deal to thwart a possible foreign takeover attempt from Enel, the Italian utility firm. As a part of the deal, Suez had to divest 65% of its environment activities. Suez spun off its water and waste businesses which were valued at €20 billion. Gaz de France swapped 21 of its shares for 22 of Suez. The merger between Gaz de France and Suez created a global energy leader with leadership position in natural gas and electricity. The combined firm created a diversified, flexible energy supply stream with high-performance electricity production base. Keywords: Business Waste; Large Electricity; Suez Environnement; Euronext Brussels; Euronext Paris (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-030-02363-8_31 Ordering information: This item can be ordered from DOI: 10.1007/978-3-030-02363-8_31 Access Statistics for this chapter More chapters in Management for Professionals from Springer |
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