Suez ups Electrabel interest

24 June 2003 – French utility group Suez has increased its holding in Belgian power company Electrabel with share purchases in the last month.

Suez has raised its stake from 51.16 percent from 50.01 percent, according to a statement released on Monday by Euronext. Suez bought an additional 630 325 shares in Electrabel.

A take-over of Electrabel by Suez has been rumoured for some time and Suez is in the midst of negotiating the possible sale of a number of Belgian assets to Electrabel, including its stakes in natural gas trader Distrigas.

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