French government to sell 3.1% stake in GDF Suez

|By:, SA News Editor

The French government says it is selling a 3.1% stake in GDF Suez (GDFZY), with an option to sell as much as 3.6%, as part of an effort to raise cash and help pay for a controlling stake in Alstom (ALSMY), which is to merge its energy business with GE.

Based on Tuesday's closing price at the Paris Stock Exchange, the sale could raise €1.56B-€1.79B ($2.12B-$2.43B).