Dutch power company Nuon NV and Electricite de France SA (1024251.FR), or EdF, are both looking at buying the 25.5% stake in Belgian power generator SPE that is currently held by Gaz de France (1020848.FR), or GdF, Belgian daily Le Soir reported Wednesday, without disclosing sources.
Centrica PLC (CNA.LN), the U.K. utility that also owns a 25.5% stake in SPE, has the right to preempt any deal for the sale of GdF's stake and may use that power to take control of SPE, Le Soir said.
The European Commission is requiring GdF to sell this stake in order to complete its pending merger with Suez (SZE.FR). Franco-Belgian utility Suez must for its part sell the 57% stake it owns in Distrigas SA (DIST.BT), Belgian's largest natural gas distributor.
The three companies on the shortlist to buy Distrigas are power giants E.ON AG (EOA.XE) of Germany and EdF, and Italian oil and gas company Eni SpA (ENI.MI).