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

11/19/2012

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

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