BRUSSELS, Belgium, Sept. 3 /CNW/ - This Wednesday 3 September, the SCRL
(limited cooperative society) Publigaz and the GDF SUEZ group, in their
capacity as stable shareholders in the company Fluxys, have concluded an
agreement incorporating the following aspects.
1. Right of first refusal
Publigaz exercised its right of first refusal on the 87,804 shares sold
by GDF SUEZ last July to Ecofin Limited. In this way, the number of Fluxys
shares held by GDF SUEZ does not exceed the number of shares held by Publigaz
and sets up at 45%. The transfer will be exercised at the price agreed between
GDF SUEZ and Ecofin Limited, namely EUR 2,600 per share.
2. Development of the share structure of Fluxys
On 31 December 2009, GDF SUEZ commits to sell to Publigaz a number of
Fluxys shares sufficient to allow Publigaz to retain 51.28% of the capital of
Fluxys. The sale will take place at the agreed price of EUR 2,680 per share.
On this date, the governance rules and the composition of the Counsel of
Fluxys will be adapted to take into account the new share structure. At the
conclusion of an annual general meeting to be held in 2010, the chairmanship
of the Board of Directors will be handed back to a director appointed on the
proposal of Publigaz and the chairmanship of the strategic committee entrusted
to a director appointed on the proposal of GDF SUEZ.
3. Fluxys International
The parties are in agreement regarding the establishment of the company
Fluxys International, who will own the Zeebrugge terminal. SUEZ will also
bring to this company its 5% shareholding in Interconnector UK Limited.
The capital of Fluxys International will be held by GDF SUEZ, Publigaz
and Fluxys, at 60%, 20% and 20% respectively.
Management of Fluxys International will be entrusted to Fluxys.
The Board of Directors of Fluxys International will be appointed upon
presentation of the Board of Directors of Fluxys, the chair of the committee
of Directors will fulfil the role of Managing Director of Fluxys
Finally, the parties have watched over the construction of a share
structure and governance for Fluxys International that makes it possible to
consolidate with Fluxys. In addition they have paid particular attention to
the impact of this structure on:
- Safeguarding the country's supply of natural gas;
- Cargo traffic in the LNG port at Zeebrugge, notably the independent
and non-discriminatory operation of the terminal with regard to
- Development and maintenance investments in the LNG port, as well as
- The governance and functioning of Fluxys International authorities,
and have agreed to carry out an analysis of these issues in 2010.
One of the world's leading energy providers, GDF SUEZ is active across
the entire energy value chain, in electricity and natural gas, upstream and
downstream. The Group develops its businesses (energy, energy services and
environment) based on a responsible growth model with the aim of meeting great
challenges: responding to energy needs, ensuring security of supply, combating
climate change and optimizing the use of resources. GDF SUEZ relies upon
diversified supply sources as well as flexible and high-performance power
generation to provide innovative energy solutions for individuals, public
authorities and businesses. The Group employs 196,500 people worldwide and in
2007 achieved revenues of EUR74.3 billion. GDF SUEZ is listed on the Brussels,
Luxembourg and Paris stock exchanges and is represented in the main
international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext
100, FTSE Eurotop 100, MSCI Europe and ASPI Eurozone.
For further information:
For further information: GDF Suez Press Contact: Tel France:
+33(0)1-47-54-24-35, Tel Belgium: +32-2-510-76-70, E-Mail: firstname.lastname@example.org;
Investor Relations Contact: Tel: +33(0)1-40-06-66-29, E-Mail: email@example.com;
Publigaz Press Contact: C. Viaene: +32(0)475-26-00-19