PRESS RELEASE
Gaz de France and SUEZ have completed
the acquisition of UK Teesside power plant,
Europe’s largest combined-cycle gas turbine plant (1,875 MW)
Monday 28th April, 2008 - Following clearance by European Competition Authorities, SUEZ and Gaz de France today confirmed that they have completed the acquisition of Teesside Power Limited from Cargill and Goldman Sachs. Gaz de France and SUEZ, through its subsidiary Electrabel, each own 50 per cent of the company.
The Teesside unit is a 1,875 MW CCGT power plant located in northeast England, at the Wilton industrial site. With 8 natural gas-fired turbines, it is currently Europe’s largest combined-cycle gas turbine plant.
SUEZ and Gaz de France will upgrade the 15-year-old Teesside Power Station, following the local authorities’ (Redcar and Cleveland Borough council) granted planning permission. The new owners will carry out a thorough appraisal of the plant, before deciding how and when to progress any upgrade work.
Notes to Editors:
Teesside Power Station began operations on the western edge of the Wilton site in April 1993 as a joint venture between Enron, ICI and four of the regional electricity companies. The power station can produce about 3% of the electricity needs of England and Wales. It is one of the world’s largest combined-cycle gas turbine combined heat and power plants and also provides an important “black start” capability helping to ensure security of electricity supplies to the North East.
Links: www.teessidepower.co.uk
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Gaz de France
The Gaz de France Group is a major energy player in Europe. As the leading natural gas distributor in Europe, Gaz de France employs nearly 50,000 employees and earned €27 billion in sales in 2007. The Group holds a portfolio of some 14 million clients, approximately 11 million of which are in France. Gaz de France is listed on the Paris Stock Exchange and forms part of the CAC 40 and Dow Jones Stoxx 600 indices.
SUEZ
SUEZ, an international industrial and services Group, designs sustainable and innovative solutions in the management of public utilities as a partner of public authorities, businesses and individuals. The Group aims to answer essential needs in electricity, natural gas, energy services, water and waste management. The Group employs 149,000 people worldwide and achieved revenues of €47.5 billion in 2007, 89% of which were generated in Europe and in North America. SUEZ is listed on the Brussels, Luxembourg, Paris and Zurich stock exchanges and is represented in the major international indices: CAC 40, BEL 20, DJ STOXX 50, DJ EURO STOXX 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and ASPI Eurozone.
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SUEZ | | Gaz de France |
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France: Belgium: | +33(0)1 4006 6651 +32 2 510 76 70 | | Press service: | +33(0)1 4754 2435 |
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Analyst contacts: | |
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SUEZ | | Gaz de France |
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Investor Relations: +33(0)1 4006 6489 | | Investor Relations: | +33(0)1 4754 7725 |
Important Information
This document does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of SUEZ or Gaz de France, nor shall there be any purchase, sale or exchange of securities in any jurisdiction (including the United States, Germany, Italy and Japan) in which such offer, solicitation, purchase or sale or exchange would be unlawful prior to the registration or qualification under the laws of such jurisdiction. The distribution of this communication may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, Gaz de France and SUEZ disclaim any responsibility or liability for the violation of such restrictions by any person.
The Gaz de France ordinary shares which would be issued in connection with the proposed business combination set out in this document to holders of SUEZ ordinary shares (including SUEZ ordinary shares represented by SUEZ American Depositary Shares) may not be offered or sold in the United States except pursuant to an effective registration statement under the United States Securities Act of 1933, as amended, or pursuant to a valid exemption from registration.
In connection with the proposed business combination, and as far as necessary, the required information documents will be filed with the Autorité des marchés financiers (“AMF”) and, if applicable, the United States Securities and Exchange Commission (“SEC”).
Forward-Looking statements
This document contains forward-looking information and statements. These statements include financial projections, synergies, cost-savings and estimates and their underlying assumptions, statements regarding plans, objectives, savings, expectations and benefits from the transaction and expectations with respect to future operations, products and services, and statements regarding future performance. Although the managements of Gaz de France and SUEZ believe that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Gaz de France or SUEZ ordinary shares are cautioned that forward-looking information and statements are not guarantees of future performances and are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Gaz de France and SUEZ, that could cause actual results, developments, synergies, savings and benefits from the transaction to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the public filings with the Autorité des marchés financiers (“AMF”) made by Gaz de France and Suez, including those listed under “Facteurs de Risques” in the Document de Référence filed by Gaz de France with the AMF on April 27,2007 (under no: R.07-046) and in the Document de Référence and its update filed by Suez on April 4, 2007 (under no: D.07-0272). Except as required by applicable law, Gaz de France and SUEZ do not undertake any obligation to update any forward-looking information or statements.
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