HALISTER: Centrica’s North Sea Deal With Engie Collapses: Sunday Times

Centrica’s North Sea Deal With Engie Collapses: Sunday Times

(Bloomberg) -- Agreement in principal to combine Centrica’s North Sea oil and gas production arm with Engie fell apart after Chinese part-owner of French utility’s production arm voted against the deal, the Sunday Times reports, citing people close to the situation.
  • Isabelle Kocher, Engie’s CEO, has started talks with China Investment Corp., which controls 30% of the firm’s production arm, to overturn decision
  • Deal collapsed “just weeks before” Centrica unveiled an equity placing last week, Sunday Times says
  • Centrica and Engie both declined to comment to newspaper
  • NOTE: May 5, Centrica slides most in seven years on $1b share sale
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
CNA LN (Centrica PLC)
ENGI FP (Engie SA)
CHIVCZ CH (China Investment Corp)

People
Isabelle Kocher (Engie SA)

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