Distrigas

Distrigas, Belgium's natural gas supplier, said it would split in two to comply with a European Union law obliging member countries to break up monopolies and open the energy sector to competition. Distrigas said shareholders voted unanimously in favour of a proposal to split the company into a gas trader and supplier. The gas supplier, to keep the name Distrigas, would seek to list its stock on Euronext Brussels by December 10 with Belgian-Dutch financial services group Fortis as the lead underwriter of the issue. Its shareholder structure would be the same of that of the gas trader, to be called Fluxys, with Tractebel and Belgian Shell owning more than 50 %. Both companies will have a free float of 11.5 %.
Share
STIJGERS & DALERS BEL20