Belgium's second-biggest electricity producer SPE would make the perfect partner for Belgian gas distributor Distrigas SA (DIST.BT), SPE Chief Executive Luc Sterckx said in an interview published in Belgian daily de Tijd Wednesday.
"The deal would be good for both businesses, for the shareholders and for the Belgian market," he said. A merger of the two is seen by SPE as a unique chance to create a strong second player in the Belgian energy market which is dominated by France's Suez (SZE.FR), the paper reports.
SPE, together with its U.K. shareholder Centrica PLC (CPYYY), has made a takeover bid for Distrigas, which is being sold to comply with antitrust conditions imposed as part of Suez's merger with Gaz de France (1020848.FR).
The bid, however, didn't make the shortlist of three drawn up by Suez, which favors an asset swap with another big European player.
SPE hopes in this way to force a merger with Distrigas after all, the paper says. The Belgian government also has "strong sympathy" for such a tie-up, according to SPE.