Forbes: Shell’s Belgian Unit Sells Utilities
Associated Press
Posted 8 Sept 04
Shell Transport and Trading Co. said Tuesday that its Belgian unit is selling its interest in two utilities to Suez Tractebel S.A. for about 380.4 million euros, or about $459.7 million.
Belgian Shell is selling its 16.67 percent interest in Distrigaz SA, a Belgian gas wholesale company, and its former unit Fluxys SA, a gas transmission company.
Suez Tractebel, Belgium’s largest utility holding company, agreed to pay 1648 euros ($1,991) per share for Distrigaz and 1600 euros ($1,933) per share for Fluxys, Shell said. Distrigaz last traded at 1,900 euros per share on the Brussels Stock Exchange while Fluxys traded at 1,757.50 euros per share.