GDF Suez Unit To Sell Fluxys Stake To Publigas For EUR636 Million

Franco-Belgian utility GDF Suez (GSZ.FR) and Belgian municipal holding company Publigas said late Tuesday they have reached an agreement on the transfer to Publigas of the 38.5% stake in Belgian gas transport operator Fluxys SA (FLUX.BT) held by GDF Suez's unit Electrabel.

MAIN FACTS:

- The 270 530 shares will be ceded at the price of EUR2,350 per share for a total amount of EUR636 million.

- After this transaction, the participation of Publigas in Fluxys will be brought to 89,97%, while the Group GDF Suez will completely step out of the capital of this company, the companies said.

- The agreement foresees also the transfer of GDF Suez's participation in Fluxys LNG to Fluxys and the handing over of its participation in the Interconnector to a subsidiary of Fluxys.

- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; djnews.paris@dowjones.com

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