EDF Part of Group in Bid for Total's TIGF Gas Storage Unit - Report
November 19 2012 - 2:54AM
Dow Jones News
PARIS--French state-controlled power group Electricite de France
SA (EDF.FR) is part of a consortium which has bid to acquire Total
SA's (TOT) French gas storage unit TIGF, French business daily Les
Echos reports Monday, citing unspecified sources.
TIGF is valued between 2 and 3 billion euros ($2.55 billion and
$3.83 billion) and is part of Total's program of EUR15 to EUR20
billion of planned disposals by 2015, to give the oil and gas major
increased financial flexibility for its investment plans, mostly in
exploration and production.
An EDF spokeswoman declined to comment. A Total spokesman also
declined to comment.
GDF Suez SA (GSZ.FR) has decided not to bid for TIGF, Les Echos
also reported. No one at GDF Suez was immediately available to
comment
Newspaper Web site: http://www.lesechos.fr
Write to Geraldine Amiel at geraldine.amiel@dowjones.com
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