GDF Suez closing in on Repsol LNG assets

Announcement: French media has reported GDF chief executive Gerard Mestrallet could unveil a deal to acquire Repsol's LNG assets on Tuesday

AFP/SCANPIX

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News Wires

 03 December 2012 05:34 GMT

France’s GDF Suez is closing in on a deal to acquire Repsol’s liquefied natural gas unit, according to French media.

GDF Suez’s chief executive, Gerard Mestrallet, could announce the deal on Tuesday during an investors day French website Wansquare reported, citing unnamed banking sources.

Repsol put its non-core LNG assets in Canada, Peru and Trinidad earlier this year to boost its finances and credit ratings following the seizure of its Argentinean unit YPF by the country’s government.

In September, it was reported that Gail India was eying the Spanish company’s LNG assets, in particular its Canaport LNG terminal in Canada.

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