Suez - Gaz de France Merger

After months of stalled negotiations, Suez and Gaz de France have agreed to merge, creating the second largest utility company in France. Both boards approved the merger in June, 2008. The new company name will be "GDF Suez". The French government arranged the merger when it appeared Italian company Enel would make a bid for Suez. Suez gave up its water and waste businesses as part of the deal.

Fast Facts

1. Shareholder votes: July 16, 2008
2. New company name: GDF Suez
3. Chairman and CEO: Gerard Mestrallet
4. 35% owned by French state¹
5. Assets: Over 90 billion euros¹

Gaz de France Facts

1. State-owned
2. Europe's largest natural gas company
3. Market capitalization: 29.3 billion euros²

Suez Facts

1. Formed: 1822
2. Chairman and CEO: Gerard Mestrallet
3. Market value: 43 billion euros²

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