By Dow Jones Business News,
June 25, 2014, 03:46:00 AM EDT
By Ruth Bender
PARIS--The French government said Wednesday it sold a 3.1% stake in energy group GDF Suez SA (GSZ.FR) for about 1.5
billion euros ($2.04 billion), which will help finance the acquisition of a stake in Alstom SA (ALO.FR).
The sale comes as the French government plans to acquire a 20% stake in French power and transport engineering group
Alstom to gain more control over the company's strategy, which is to merge its energy business with that of General
Electric Co. ( GE ).
The government said on Tuesday it would sell a 3.1% stake in utility GDF Suez, with an option to sell as much as 3.6%.
Economy Minister Arnaud Montebourg said at the weekend that the government could pay for the stake with the proceeds
from the sales of holdings in such companies as Aeroports de Paris (ADP.FR), Airbus Group NV (AIR.FR) and Safran SA
(SAF.FR), but didn't mentioned GDF Suez.
The government will still holds 33.6% in GDF Suez.
Write to Ruth Bender at firstname.lastname@example.org
Corrections and Amplifications
This item was correcetd at 07:57 GMT. The original misstated the currency conversion in the first paragraph. It should
be $2.04 billion.
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