GDF SUEZ signs agreement to sell assets in Panama and Costa Rica
GDF SUEZ announces that it has signed an agreement for the sale of its assets located in Panama and Costa Rica to Celsia, a Colombian company. Assets included in the transaction are the wholly owned 118 MW Dos Mares hydro complex, 83 MW Cativa fuel oil plant and 50 MW Guanacaste wind farm, together with the 249 MW Bahia Las Minas thermal complex (coal and fuel oil plants), in which GDF SUEZ has a 51% share.
The sale is the result of a direct negotiation initiated with Celsia. Given the value creation from the offer received, the transaction fits with the Group’s strategy to recycle capital and enhance the value of its portfolio. This transaction will result in a reduction of around USD 1 billion of GDF SUEZ consolidated net debt. Completion is expected towards the end of 2014.
In line with the Group’s ambition to be the benchmark energy player in fast growing markets, proceeds from this transaction will be redeployed to consolidate current strongholds and materialize new opportunities in fast growing countries.
Today, GDF SUEZ Energy Latin America is present in Argentina, Brazil, Costa Rica, Chile, Panama, Peru and Uruguay, supporting this fast growing continent in its economic development, respecting the environment and providing essential services to its people. We manage and operate a diversified energy portfolio. Two thirds of the electricity it generates is renewable.
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 Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone, Vigeo World 120, Vigeo Europe 120 and Vigeo France 20.