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Centrica seen eyeing Belgium's Distrigas

Business Materials 4 November 2007 14:51 (UTC +04:00)

Energy group Centrica is interested in acquiring Belgian natural gas trading group Distrigas, owned by France's Suez, a Belgian financial daily reported on Saturday.

Centrica has already said it wants to buy a 25.5 percent stake that Gaz de France holds in Belgium's SPE. GDF is expected to sell this stake after the European Commission imposed conditions on its recently-approved merger with Suez.

"We have the money ready and we are waiting for the calendar from GDF," Centrica European business development chief Stephane Kirkland, said in an interview with Belgian newspaper L'Echo.

"Centrica and SPE also have a definite interest in Distrigas which Suez is in the process of divesting," he said.

The Commission, which polices competition in the 27 EU member states, ordered Suez to sell Distrigas because of concerns about the impact its merger with GDF would have on the Belgian market.

Other players on the market have expressed an interest in Distrigas, including Belgian shipping group Exmar. Russia's Gazprom has also indicated it is interested in looking at joint ventures with Distrigas. ( Reuters )

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