Doris Leblond
OGJ correspondent
PARIS, June 2 -- Gaz de France has acquired 51% of Romanian natural gas distribution company Distrigaz Sud, bolstering GDF's position in central and eastern Europe.
Last year, GDF paid 150 million euros for a 30% stake in Distrigaz Sud, which operates a 13,400 km distribution network serving 900,000 customers in Bucharest (OGJ, Nov. 15, 2004, p. 39).
In the final phase of the previously announced two-phase transaction, GDF paid a further 180 million euros to increase its stake in Distrigaz Sud to 51%. Romania retained the remaining 49%.