Doris Leblond
OGJ Correspondent
PARIS, Mar. 26 -- Suez has short-listed three candidates to purchase its 57.25% stake in Belgium's utility Distrigaz. The move is in line with Suez's commitment to the European Commission to relinquish some gas assets before its merger with Gaz de France. Belgian state-controlled Publigas holds another 25.5% of Distrigaz, and the balance is publicly held.
The three candidates are French electricity utility Electricite de France SA, Italy's Eni SPA, and Germany's E.On AG. Negotiations with these companies will begin shortly, and a final decision is expected in late June.
Suez maintains that it prefers asset exchanges rather than money, such as shares in nuclear power units. Belgium is wary about EDF gaining a foothold in its market, so there could be some question about its chances of being selected.
For its part, GDF is committed to relinquishing its 25.5% share in Belgian electricity company SPE. Britain's Centrica holds 25.5% of the utility and has first refusal for the stake held by GDF.
