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GDFZY vs. ETF Alternatives
Thursday, Feb 278:49 AM
Thursday, Feb 278:49 AM| 4 Comments
- GDF Suez (GDFZY) swung to a net loss of €9.3B in 2013 from a restated profit of €1.54B a year earlier after taking write-downs of €9.1B, mostly on European power assets, and after booking goodwill charges of €5.8B.
- GDF took the writedowns, which reflect soft demand and increased competition from coal, because "the change in environment in Europe is now serious and long-lasting."
- Net recurrent profit -10% to €3.4B.
- EBITDA dropped to €14.8B from €17B under new accounting rules.
- Expects net-recurrent profit of €3.3-3.7B in 2014.
- Shares +5% in Paris.
- GDF maintained a dividend of €1.50 a share for 2013 but said it would only pay a minimum of €1 from 2014-2016. (PR)
Tuesday, Jan 2111:46 AM
Tuesday, Jan 2111:46 AM| 1 Comment
- Talisman Energy (TLM +0.8%) reportedly rejected a $17B takeover offer from French utility GDF Suez (GDFZY, GDSZF), as the two sides failed to agree on terms in December and have not been in contact since.
- However, U.S.-based utility AES Corp. (AES +0.4%) may still be in GDF’s sights given its footprint in places such as Colombia, where GDF does not operate: GDF's Chinese partner, CIC, is an 8% shareholder in AES, which could ease financing and help get support for a deal.
- Beyond TLM and AES, sources say GDF also could look at smaller portfolios of assets in Latin America worth $5B-$10B, such as assets held by Duke Energy (DUK +0.9%) and Italy's Enel (ENLAY).
Monday, Jan 137:51 AM
Monday, Jan 137:51 AM| Comment!
- Total (TOT) purchases a 40% stake in two shale gas exploration licenses for the U.K., the first sign of interest from an energy major in British reserves. (earlier)
- The move is worth less than $50M, but the investment is a sign of confidence in prospects for shale gas in the U.K., which has seen some pilot projects disrupted by local and environmental protests.
- French oil companies Total and GDF Suez (GDFZY, GDSZF) have hopped across the English Channel to explore for British gas, but both probably would be doing it at home had the country not banned fracking.
Thursday, Nov 142013, 8:12 AM
Thursday, Nov 142013, 8:12 AM| Comment!
- GDF Suez (GDFZY, GDSZF) agrees to acquire Vale’s (VALE) 20% stake in a pair of gas blocks in the Parnaiba basin in northeast Brazil, marking GDF's first entry into exploration and production activities in Brazil.
- Blocks 2 and 3 each cover slightly more than 3K sq. km; one exploration well in each of the two blocks is scheduled by March 2014.
Wednesday, Nov 62013, 10:44 AM|Wednesday, Nov 62013, 10:44 AM| Comment!
Friday, Oct 252013, 9:59 AM
Friday, Oct 252013, 9:59 AM| 1 Comment
- Sempra Energy (SRE) and its partners are seeking as much as $5B in loans from commercial banks for their Cameron LNG project, Bloomberg reports.
- The planned $10B terminal in Louisiana is among four projects that have gained approval from the Department of Energy to export liquefied natural gas to countries with which the U.S. doesn’t have free-trade agreements.
- SRE holds 50.2% of the project while GDF Suez (GDFZY, GDSZF) and Mitsui (MITSY, MITSF) own 16.6% each and a venture between Mitsubishi and Nippon Yusen has 16.6%.
Tuesday, Oct 222013, 7:20 AM
Tuesday, Oct 222013, 7:20 AM| Comment!
- France's GDF Suez (GDFZY, GDSZF) teams with Australia's Dart Energy (DEGEF) to develop 13 licenses for shale gas exploration in the U.K.'s Bowland Basin, an area which already has attracted investment from British Gas parent Centrica (CPYYF, CPYYY).
- GDF will acquire a 25% working interest in the blocks, with Dart retaining operatorship and a 75% stake.
- A three-year exploration and appraisal program is expected to include the drilling of up to four shale gas exploration wells in different areas of Bowland, plus 10 coalbed methane exploration wells.
- The deal provides a boost to Britain's bid to exploit shale gas deposits after the government unveiled incentives earlier this year to drive investment in the sector.
Tuesday, May 282013, 12:16 PMGDF Suez (GDFZY.PK) has bought ~9% in the proposed Nabucco West gas pipeline project from Austrian oil and gas company OMV. Nabucco West is one of two remaining proposed pipelines in the running to bring Caspian Sea gas supplied by the Shah Deniz consortium to Europe. The French utility also will sell its 12% holding in the Medgaz Algeria-Europe deepwater gas pipeline. |Tuesday, May 282013, 12:16 PM| Comment!
Thursday, May 162013, 6:10 PMSempra Energy (SRE) signs three 4M-ton/year, 20-year agreements with Japanese and French partners to support development, financing and construction of a liquefied natural gas export facility at the site of SRE's Cameron LNG receipt terminal in Louisiana. The plant will have an export capacity of 12M tons/year and is expected to cost up to $10B; construction will start next year. |Thursday, May 162013, 6:10 PM| Comment!
Friday, Mar 12013, 6:19 PM
Tuesday, Jan 152013, 4:43 PMRepsol (REPYY.PK) expects to sell liquefied natural gas assets for ~€2B ($2.7B) by early February, Bloomberg reports; the buyer is not known, but GDF Suez has said it was looking at Repsol’s LNG assets. Spain's largest energy company is trying to keep its investment-grade debt rating by selling €4.5B in assets by 2016 and paying down borrowings. |Tuesday, Jan 152013, 4:43 PM| Comment!
Friday, Jun 292012, 11:45 AMGerman utility E.ON AG (EONGY.PK 4%) and France's GDF Suez SA (GDFZY.PK 3.7%) both move higher today after Europe's second-highest court cut antitrust fines levied on both companies by more than 40%, citing an error in their calculation. In 2009, the European Commission had fined the two companies around $689M each for agreeing not to compete on each other's national gas markets. |Friday, Jun 292012, 11:45 AM| Comment!
Wednesday, Apr 42012, 6:34 AM
Thursday, Mar 292012, 9:32 AMFrench utility GDF Suez (GDFZY.PK) is prepared to pay £6B ($9.5B) for the 30% of U.K. electricity company International Power (IPWG.PK) it doesn't already own. GDF bought a 70% stake in the British company in February last year and has to wait till August before it can buy the rest of the shares. |Thursday, Mar 292012, 9:32 AM| Comment!
Saturday, Oct 92010, 2:55 PM
Tuesday, Aug 102010, 7:15 AMAs expected, GDF Suez (GDFZY.PK) and International Power (IPRPY.PK) agree to a tie-up that will see GDF take control of 70% of the combined company and pay shareholders a special dividend of 92 pence ($1.45) per share. Both firms also released H1 earnings: GDF, IP. |Tuesday, Aug 102010, 7:15 AM| Comment!