Pinault to be given Suez bid deadline

January 4 2007 - Billionaire businessman François Pinault will next week be given a deadline by which he must either make a bid for French utility Suez or shelve his plans for at least six months.

The board of the French stock market watchdog, AMF, expressed on Wednesday that it considered a statement released this week by Mr Pinault's holding company, Artémis, had officially declared an interest in Suez. Insodoing, under new French regulations aimed at curbing the impact of bid rumours on share prices, Artémis must now either alone or in concert launch a public offer for Suez shares or publish a further statement setting out the characteristics of a public offer.

It was uncertain how long Mr Pinault would be given to make such a decision. This could be as much as a month.

Rumours abound that Mr Pinault proposes to bid up to €70bn ($92bn) for waste and water utility Suez and then sell it back to Gaz de France (GdF) for as much as €40 bn. The French government supports a full merger of GdF and Suez and on Wednesday dismissed speculation that president Jacques Chirac was prepared to consider a deal with Artémis.

Sponsored by FLSmidth

Related Articles

Duke Energy to acquire natural gas power plant from Calpine

Duke Energy (NYSE: DUK) will acquire the Osprey Energy Center, a natural gas-fired facility, from Calpine Corp.

Duke Energy acquires majority interest in REC Solar

Duke Energy (NYSE: DUK) has acquired majority interest in REC Solar, a provider of comprehensive commercial solar and energy solutions nationwide.

Follow Power Engineering on Twitter
Latest News

FPL plans to add new 1,600-MW combined-cycle gas power plant

NextEra Energy (NYSE:NEE) utility Florida Power & Light (FPL) said July 2 that it plans t...

Valley NG retires 1,069 MW of gas-fired steam capacity in Texas

Valley NG Power Co. LLC on July 2 asked the Public Utility Commission of Texas to let it drop...

SunEdison, Gamesa sign MOU to develop 1 GW of wind power

SunEdison (NYSE: SUNE) and Gamesa (BME: GAM) have signed a Memorandum of Understanding (MOU) ...

Dominion looks to SCC to approve Greensville Power Station

Dominion Virginia Power (NYSE:D) asked the Virginia State Corporate Commission (SCC) for...

SunEdison begins construction at wind energy project in Maine

SunEdison (NYSE: SUNE) secured financing for and started construction on the 185-MW Bingham W...

PNM files ownership plan, coal supply deal with regulators

New Mexico's largest electric provider says it's on track to meeting a deadline for submittin...

Oklahoma attorney general challenges EPA's clean-air plan

A plan by the U.S. Environmental Protection Agency to reduce emissions from coal-fired power ...

Wave Energy Week will mix marine energy developers with traditional hydropower

Oregon Gov. Kate Brown, Democrat, has proclaimed “July 13-17, 2015 to be Oregon Wave Week in ...

Power Engineering Current Issue

01/01/2015
Volume 119, Issue 1
1501pe-cover-lg
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 | 2014 | 2015

Buyers Guide Categories

Power Industry Wire News

BioSolar Extends Research Agreement With Top University to Further Develop Its Super Battery Technology

BioSolar Extends Research Agreement With Top University to Further Develop Its Super Ba...

KPIT Implements SuccessFactors(R) Recruiting Management Solution for Metropolitan Utilities District of Omaha

KPIT Implements SuccessFactors(R) Recruiting Management Solution for Metropolitan Utili...

Pure Cycle Corporation Announces Fourth Amendment to Purchase and Sale Agreement and Expiration of Initial Due Diligence Period

Pure Cycle Corporation Announces Fourth Amendment to Purchase and Sale Agreement and Ex...

Ideal Power Receives 5 MW of Orders for Its 30kW and 125kW Power Conversion Systems

Ideal Power Receives 5 MW of Orders for Its 30kW and 125kW Power Conversion Systems

Eureka Hunter Announces New Record Throughput Volumes of ~700,000 MMBtu Per Day

Eureka Hunter Announces New Record Throughput Volumes of ~700,000 MMBtu Per Day

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 >>