Electrabel to raise CNR stake

17 July 2003 - Belgian utility Electrabel said on Wednesday it will acquire the 22.22 per cent stake in Compagnie Nationale du Rhone held by Electricité de France, raising its stake to 47.82 per cent.

"The sale will boost Electrabel's shareholding to 47.82 per cent by the end of 2003, respecting the public majority required by law," Electrabel said in a statement after market close.

A spokeswoman for Electrabel declined comment on the financial details of the deal which will be completed by year-end.

The French daily Les Echos said earlier this month state-owned EdF hoped to get €265m ($295.3m) for the holding.

Electrabel was looking to raise its stake in CNR, France's second-largest electricity producer after EdF, to expand its market share in France.

The Belgian-based firm is targeting 10-15 percent of the country's liberalised power market, up from less than five percent currently.

Sponsored by FLSmidth

Related Articles

TEPCO completes nuclear fuel assemblies removal from Fukushima 4

Tokyo Electric Power Co. (TEPCO) said it has safely removed the fuel assemblies from the most damaged nuclear reactor at the Fukushima Daiichi nuclear power plant.

B&W Vølund to build waste-to-energy power plant in Scotland

In a consortium with Interserve, Babcock & Wilcox Co.’s (B&W, NYSE:BWC) subsidiary, Babcock & Wilcox Vølund A/S (B&W Vølund), will engineer, procure and construct (EPC) a waste-to-energy (WTE) power plant for Viridor UK. The contract is worth approximately $230 million.

Follow Power Engineering on Twitter

Latest News

Shutterstock coal production trucks

Weekly Coal Production

The Weekly Coal Production shows how much coal is being produced across the U.S.

Federal Reserve Bank of Dallas Weekly Economic Indicators financial business

The Federal Reserve Bank of Dallas' Economic Indicators

The Federal Reserve Bank of Dallas offers a glimpse into how the markets are doing domestical...

Kvaerner awarded contract for gas-fired power plant in Delaware

Kvaerner North American Construction Inc. and its joint venture partner, Parsons Brinckerhoff...

Canadian Solar purchases two solar projects

Canadian Solar Inc. has acquired a majority interest in two utility-scale solar power project...

Operators Restart Unit 2 at PPL Susquehanna

Unit 2 at the PPL Susquehanna nuclear power plant near Berwick, Pa. resumed generating electr...

Settlement agreement limits cost recovery at Edwardsport

The Indiana Utility Regulatory Commission (IURC) on Dec. 27 modified and approved a settlemen...

Toshiba in talks to sell portion of Westinghouse nuclear unit

Toshiba Corp is in talks  to sell up to 16% of its stake in the Westinghouse Electric Co...

Utah nixes nuclear waste storage facility

Plans to park radioactive waste at a storage facility in Utah have been officially called off.

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Buyers Guide Categories

Power Industry Wire News

DPG Investments, LLC Welcomes New Talent, Touts 2014 Team Achievements

DPG Investments, LLC Welcomes New Talent, Touts 2014 Team Achievements

MCW Energy Group Details Further Progress of Its Initial Oil Sands Extraction Plant in Utah

MCW Energy Group Details Further Progress of Its Initial Oil Sands Extraction Plant in ...

American Power Group Corporation Reports Fourth Quarter and Fiscal 2014 Results

American Power Group Corporation Reports Fourth Quarter and Fiscal 2014 Results

Ambient Water Releases Letter to Shareholders

Ambient Water Releases Letter to Shareholders

Western Gas Partners Announces Expiration of Third Party Option

Western Gas Partners Announces Expiration of Third Party Option

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>