July 1, 2015 / 8:14 AM / 5 years ago

Engie not planning Electrabel IPO, not ruling out partners

PARIS, July 1 (Reuters) - French gas and power group Engie chief executive Gerard Mestrallet said an IPO for the firm’s Belgian unit Electrabel was not on the agenda for now but he did not rule out bringing new partners into Electrabel’s capital.

French newsletter La Lettre de L’Expansion said on Monday Engie was considering listing Electrabel - which operates seven nuclear reactors in Belgium - to share the rising costs of its nuclear activities.

“The issue cannot be on the agenda at the moment,” Mestrallet told reporters.

He said that with regard to the Belgian nuclear reactors, there were several other issues, notably the lifespan extension for reactors Doel 1 and 2, the nuclear tax, and the uncertainty about the restart of Doel 3 and Tihange 2.

“That said, the idea of bringing in partners is a topic that the Belgian government has raised. It has been discussed and the door has not been closed,” Mestrallet said. (Reporting by Benjamin Mallet, writing by Geert De Clercq)

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