GDF Suez may sell $200m Bahrain energy stake
Firm looks to sell 30 per cent stake in Al Hidd following acquisition
GDF Suez is planning to sell its 30 per cent stake in Bahrain’s Al Hidd power and water plant, in an attempt to meet a regulatory requirement, Reuters has reported.
Following the French utility firm’s recent acquisition of International Power, which owns a 40 per cent stake in the power and water plant, the company is expected to reduce its effective 70 per cent holding, with Japan’s Sumitomo Corp the – already holding a 30 per cent stake – the most likely buyer.
HSBC has been hired as an adviser on the sale, which is expected to be worth in the region on $200m.