According to AFX News, the final selling price is in line with industry expectations, which put the value at between E15 million and E20 million. The publication said that the deal’s closing price was established by the boards of both companies.
Suez already is already the owner of the engineering unit of Suez-Tractebel, which offers a wide range of engineering services for the energy sector. The industry is speculating that Electrabel’s move to purchase Suez-Tractebel will significantly enhance the company’s gas and electricity operations.
AFX News also said that, although Suez had claimed that it successfully acquired the entirety of Electrabel’s shares that it did not already own, it has been reported that a number of the Belgian company’s shareholders’ funds are taking Suez to court over the share price offered.
