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GDF Suez didn' t bid to acquire Total gas storage unit TIGF

BY GERALDINE AMIEL

PARIS -- GDF Suez confirmed it hasn' t bid to acquire Total French gas storage unit TIGF, a spokesman for GDF Suez said.TIGF is valued between $2.55 billion and $3.83 billion.

GDF Suez was thought initially to be on the list of potential buyers of TIGF which Total seeks to divest, that will increase its financial flexibility for a bold investment plan mostly in exploration and production of hydrocarbons. French business daily Les Echos reported that GDF Suez actually hadn' t bid for Total' s unit, citing unspecified sources.

Les Echos also reported that French state controlled power group Electricite de France is part of a consortium which has bid to acquire TIGF. EDF declined to comment.

Dow Jones Newswires

11/19/2012

 

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