GDF Suez buys US power company First Light

0 Comments | AFP, September, 2008

PARIS (AFP) — Newly formed French energy giant GDF Suez said on Tuesday it will acquire US power firm First Light as part of its strategy to expand its presence in the US market.

GDF Suez did not give a price for the acquisition but daily Le Figaro reported earlier it would cost 1.3 billion euros (1.9 billion dollars).

First Light runs 15 power stations in the northeast United States, "an essential market for GDF Suez in North America," the French company said.

GDF Suez was officially set up in July in a government promoted merger between Gaz de France and environmental services group Suez.

© 2008 AFP