GDF SUEZ reduces its stake in IP Maestrale, its Italian wind energy subsidiary

December 5, 2012

GDF SUEZ announces that it has reached an agreement on the disposal of a majority stake in IP Maestrale, its Italian wind energy subsidiary, to ERG SpA, an Italian energy group active in renewables through ERG Renew, for an enterprise value of €0.9 billion. As part of the transaction, GDF SUEZ will remain a minority shareholder of the company with a 20% stake.

IP Maestrale operates a wind energy portfolio with 550MW installed capacity in the south of Italy, Sicily and Sardinia, and 86MW in Germany. The transaction price implies a capacity multiple of 1.4 M€/MW which reflects the quality of the asset and represents a 2011 Ebitda multiple of 8.2x.

This transaction will allow the Group to reduce its net debt level by an additional amount of €0.8 billion. The transaction is subject to conditions precedent and is expected to close during Q1 2013.

Through this disposal and other transactions completed, GDF SUEZ has achieved 70% of its asset optimization program of €13 billion by the end of 2013.

GDF SUEZ develops its businesses around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, combating climate change and optimizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 218,900 people worldwide and achieved revenues of €90.7 billion in 2011. The Group is listed on the Brussels and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone and ECPI Ethical Index EMU.

To secure its communication, contents are certified on the blockchain using Wiztrust