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

VIDEO: One nuclear power steam generator’s trip to the Summer plant site

New video from Westinghouse Electric shows the journey the one steam generator took from the ...

Nation's biggest nuclear firm makes a play for green money

A big player in the troubled nuclear power industry is trying to change the rules of the ener...

Emerson awarded $76mn ultrasupercritical coal-fired automation project

Emerson Process Management, a subsidiary of Emerson (NYSE: EMR), was awarded a $76 million co...

Poll: Slight majority of Americans back nuclear

A slight majority of Americans say they favor nuclear energy to generate electricity in the U...

Senate endorses fees for companies that close coal plants

Senators have given initial approval to a proposal that would levy massive fines against comp...

Mexico sets 25% pollution cut by 2030 for climate talks

Mexico has become the first developing nation to submit pollutant reduction goals for next fa...

Technology to look inside Fukushima reactors faces challenge

The cutting-edge technology was billed as a way to decipher where exactly the morass of nucle...

S. Africa court dismisses Westinghouse nuclear generator replacement dispute

A South African court dismissed a filing from Westinghouse Electric Co. asking to reopen bidd...

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

DEKRA to Present New Algorithm for Faster and More Reliable Advanced Driver Assistance Systems at SAE 2015 World Congress

DEKRA to Present New Algorithm for Faster and More Reliable Advanced Driver Assistance ...

Dozens of Local Companies to Participate at Converters Expo in the Heart of Green Bay

Dozens of Local Companies to Participate at Converters Expo in the Heart of Green Bay

Clear Measure Names Chief Architect, Hires Principal Software Engineers

Clear Measure Names Chief Architect, Hires Principal Software Engineers

Save the Date: 8th Annual Whale Shark Festival Announced for Isla Mujeres

Save the Date: 8th Annual Whale Shark Festival Announced for Isla Mujeres

Resolute Energy Corporation Announces Agreement for Sale of Non-Core Assets and Changes to Board of Directors

Resolute Energy Corporation Announces Agreement for Sale of Non-Core Assets and Changes...

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 >>