CIC Negotiating for GDF SUEZ E&P Stake

China Investment Corporation (CIC) and GDF SUEZ on Aug. 10 signed a Memorandum of Understanding for cooperation across multiple businesses (gas, power, water and waste, and energy efficiency services) and regions (in particular in Asia Pacific).

As the first milestone of this cooperation, CIC is in advanced exclusive talks with GDF SUEZ regarding a USD 3.15 billion minority investment in the exploration & production division of GDF SUEZ (“GDF SUEZ E&P”). GDF SUEZ E&P accounted for 2.6% of GDF SUEZ’s aggregate revenues in 2010, 10% in EBITDA terms. CIC will own 30% of GDF SUEZ E&P. As part of the transaction, CIC would also acquire GDF SUEZ’s stake in the Atlantic LNG liquefaction plant located in Trinidad and Tobago for an amount of USD 850 million.

 

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
United States Denver: Proposals Specialist
Expertise: Business Development|Marketing|Sales
Location: Denver, CO
 
Landman - Midstream Surface Land
Expertise: Landman
Location: The Woodlands, TX
 
Land Specialist - Delaware Basin
Expertise: Landman
Location: Midland, TX
 
search for more jobs

Brent Crude Oil : $50.8/BBL 0.47%
Light Crude Oil : $47.97/BBL 0.56%
Natural Gas : $3.08/MMBtu 0.98%
Updated in last 24 hours