Mestrallet

The proposed deal is part of GDF Suez Chief Executive Gérard Mestrallet 's plan to sell roughly €10 billion in assets by 2013 to reduce debt, focus on organic growth and boost the company's presence in the Asia Pacific region.

China Closes In on European Gas Max Colchester 2011

Mr. Mestrallet has said the world is entering a "golden age" of natural gas, spurred in part by the discovery of large fields of shale gas and fears over the viability of nuclear energy after the Fukushima power-plant disaster in Japan.

China Closes In on European Gas Max Colchester 2011

Mr. Mestrallet said the group's current nuclear strategy is to stay the course on the energy source, although the nuclear share of GDF Suez's capacity will drop to 7% from 10% in the next three years as the company's project cycle evolves.

GDF Suez Plans Sale of Assets Geraldine Amiel 2011

GDF Suez's planned divestitures over the next three years are needed to "neutralize" the impact on its balance sheet of its latest deal with International Power PLC, Mr. Mestrallet said.

GDF Suez Plans Sale of Assets Geraldine Amiel 2011

"For now, we focus on organic growth," Mr. Mestrallet said in an interview.

GDF Suez Plans Sale of Assets Geraldine Amiel 2011

Mr. Mestrallet took pains amid a global re-evaluation of nuclear power to distinguish his company from its more nuclear-tilted French peers and to present GDF Suez as a diversified global energy player that is well positioned to soar on energy-demand growth in emerging economies.

GDF Suez Plans Sale of Assets Geraldine Amiel 2011

PARIS—After completing two major transactions in less than four years, French utility giant GDF Suez SA aims to divest itself of some €10 billion, or about $14 billion, in assets by 2013 as it focuses on organic growth and steers clear of more big mergers for the foreseeable future, Chief Executive Gérard Mestrallet said Thursday.

GDF Suez Plans Sale of Assets Geraldine Amiel 2011

Mr. Mestrallet offered few details on what additional asset sales are in the works.

GDF Suez Plans Sale of Assets Geraldine Amiel 2011

GDF Suez had been targeting Italy as a venue for new nuclear capacity, but that is "finished," Mr. Mestrallet acknowledged, following a referendum this month banning the fuel.

GDF Suez Plans Sale of Assets Geraldine Amiel 2011

"Nuclear prospects post-Fukushima aren't the same," Mr. Mestrallet said.

GDF Suez Plans Sale of Assets Geraldine Amiel 2011