At the end of a competitive process, Gaz de France has entered into exclusive negotiations with EDF for the sale of its interest in Segebel.

Segebel, a company jointly owned by Gaz de France and Centrica on a 50/50 basis, owns a 51% equity interest in SPE.

SPE is the second largest electricity utility in Belgium with generating capacity of 1,650 MW, representing approximately 10% of the country’s overall electricity production capacity. SPE provides electricity and gas to some 1.1 million customers.

In 2007, SPE reported net sales of €2.2 billion for the sale of 10 billion kWh and 13 billion kWh of electricity and gas respectively.

The sale of its equity interest in Segebel will allow Gaz de France to fulfil one of the commitments it made to the European Commission within the framework of plans to merge Gaz de France and SUEZ.

Tags: Gaz de France