Utilities & Clean technology Correspondent, London
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Apr 16, 2012

GDF agrees $11 billion deal to buy rest of International Power

LONDON/PARIS (Reuters) – French utility GDF Suez (GSZ.PA: Quote, Profile, Research, Stock Buzz) has agreed to buy the 30 percent of British power producer International Power (IPR.L: Quote, Profile, Research, Stock Buzz) it does not already own for 6.8 billion pounds ($10.8 billion), increasing its exposure to fast-growing markets around the world.

The 418 pence per share offer, at a 7 percent premium to an earlier approach by GDF, values International Power (IPR) at about 22.8 billion pounds ($36.2 billion) and is expected to add to the French group’s earnings.

Apr 16, 2012

GDF agrees $11 bln deal to buy rest of Intl Power

LONDON/PARIS, April 16 (Reuters) – French utility GDF Suez
has agreed to buy the 30 percent of British power
producer International Power it does not already own for
6.8 billion pounds ($10.8 billion), increasing its exposure to
fast-growing markets around the world.

The 418 pence per share offer, at a 7 percent premium to an
earlier approach by GDF, values International Power (IPR) at
about 22.8 billion pounds ($36.2 billion) and is expected to add
to the French group’s earnings.

Mar 29, 2012

GDF makes 6 billion pounds move on International Power

LONDON (Reuters) – French utility GDF Suez SA (GSZ.PA: Quote, Profile, Research) is ready to pay 6 billion pounds ($9.5 billion) for the 30 percent of British electricity producer International Power Plc (IPR.L: Quote, Profile, Research) it does not already own.

International Power, already 70 percent owned by the French utility, said on Thursday GDF had made an indicative approach, proposing to pay 390 pence a share for the outstanding stock.

Mar 29, 2012

GDF makes $9.5 billion move on International Power

LONDON (Reuters) – French utility GDF Suez SA (GSZ.PA: Quote, Profile, Research, Stock Buzz) is ready to pay 6 billion pounds ($9.5 billion) for the 30 percent of British electricity producer International Power Plc (IPR.L: Quote, Profile, Research, Stock Buzz) it does not already own.

International Power, already 70 percent owned by the French utility, said on Thursday GDF had made an indicative approach, proposing to pay 390 pence a share for the outstanding stock.

Mar 26, 2012

EasyJet sees narrower loss on cost controls

LONDON, March 26 (Reuters) – EasyJet, Europe’s
second-largest low-cost carrier, said it expected its first-half
loss to be narrower than previously thought as cost controls and
better marketing help it through tough times.

European airlines have struggled to overcome a toxic mix of
high oil prices and sluggish demand in recent months, with
low-cost airlines expected to pick up more business as
struggling European consumers trade down.

Mar 8, 2012

Energy complaints down four percent

LONDON (Reuters) – Complaints against Britain’s big six suppliers were down four percent on average in the October to December quarter, with all but two of the companies registering a drop, data compiled by a consumer body showed on Thursday.

Britain’s six largest utilities are Centrica (CNA.L: Quote, Profile, Research), SSE (SSE.L: Quote, Profile, Research), German groups E.ON (EONGn.DE: Quote, Profile, Research) and RWE (RWEG.DE: Quote, Profile, Research), French operator EDF (EDF.PA: Quote, Profile, Research) and Spanish firm Iberdrola (IBE.MC: Quote, Profile, Research).

Mar 8, 2012

UK energy complaints down four percent in Oct-Dec quarter

LONDON, March 8 (Reuters) – Complaints against
Britain’s big six suppliers were down four percent on average in
the October to December quarter, with all but two of the
companies registering a drop, data compiled by a consumer body
showed on Thursday.

Britain’s six largest utilities are Centrica, SSE
, German groups E.ON and RWE, French
operator EDF and Spanish firm Iberdrola.

Mar 7, 2012

Melrose sees sales boost from energy, mining

LONDON, March 7 (Reuters) – British manufacturing
buyout group Melrose posted full-year profit at the top
end of expectations and said strong energy and mining markets
meant it was set for further growth.

“The strong end-markets we have are proving their worth,”
finance director Geoffrey Martin told Reuters. “We are 50
percent into energy, oil & gas and mining, which are good places
to be in right now.”

Mar 6, 2012

Wood Group engineering unit boosts results

LONDON, March 6 (Reuters) – British oil industry
services group John Wood reported a better than expected
16 percent rise in full-year profits on Tuesday, helped by a
strong performance at its core engineering unit where it expects
to see further growth this year.

The company, which designs, builds and maintains oil and
gas facilities and pipelines, said increased exploration and
production (E&P) activity drove sales at its engineering unit,
and it expects further growth at the divison.

Feb 27, 2012

Cookson sees emerging markets as growth driver

LONDON, Feb 27 (Reuters) – British industrial
materials group Cookson said its increasing exposure to
developing markets would fuel growth in 2012, surprising the
market which had looked for sales to stay flat mainly due to
sluggish Europe.

Cookson, whose products are used in the glass and solar
industries as well as by steelmakers and foundries, on Monday
forecast mid-single digit growth for 2012, after reporting a
better-than-expected 18 percent increase in 2011 pretax profit.

    • About Adveith

      "I moved to Reuters' London bureau in February to cover green technology and UK utilities after a stint in Bangalore. In four years with Reuters, I have covered some of the biggest utilities and clean technology companies in the United States and Britain, from bureaus in London, Bangalore and, briefly, New York. I have also been a key part of two of the company’s biggest headline news operations – in Bangalore and London - since 2008, sending fast news alerts on the biggest companies on both sides of the Atlantic. I enjoy writing about sports, and occasionally contribute to Reuters' sports blog, ..."
      Joined Reuters:
      May 2008
      Languages:
      English, Hindi, Malayalam
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