GDF, Suez see merger in H1 2008, 10 pct EBITDA rise in 2008, rising divs UPDATE |
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Mon, 15 Oct 2007 06:41
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(adds spending, expansion plans)PARIS (Thomson Financial) - Gaz de France and Suez said they expect to complete their planned merger in the first half of 2008, after which the new company, GDF Suez, will have 'sustained profitable growth.'EBITDA is seen rising 10 pct in 2008, and will reach 17 bln eur by 2010.GDF Suez has targeted an average annual dividend rise of 10-15 pct through 2010, based on GDF's 2007 dividend payout.The company will strengthen its activities with average capital spending of 10 bln eur per year in 2008-2010, with priority given to Europe.Key areas for expansion will be gas exploration and production, and infrastructure and power generation. Power generation will focus on nuclear and renewable energies.Outside Europe, GDF Suez will focus on strengthening in markets it considers fast-growing.tfn.paris@thomson.commjs/jlw/mjs/jlwCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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GDF, Suez see merger in H1 2008, 10 pct EBITDA rise in 2008, rising dividends 