Engie to Divest 69% of Thailand's Glow for EUR2.6 Billion
20 Junio 2018 - 01:19AM
Noticias Dow Jones
By Alberto Delclaux
Engie SA (ENGI.FR) on Wednesday said it has agreed to sell its
69% stake in Thailand-listed power producer Glow Energy PCL
(GLOW.TH) to Global Power Synergy PCL (GPSC.TH) for 2.6 billion
euros ($3.01 billion).
With the divestment, French energy company Engie's global
installed capacity for coal-fired generation will decrease by 14%
and it will no longer operate coal-fired assets in the Asia-Pacific
region.
Engie said the disposal forms part of its strategy to reduce its
carbon footprint and proceeds will be reinvested in projects in
line with that strategy.
The company said the transaction--expected to close before
year-end--will reduce its consolidated net debt by EUR3.3
billion.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
June 20, 2018 02:04 ET (06:04 GMT)
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