International Power reshapes portfolio
International Power, the UK power generator which is 70% owned by French utility GDF SUEZ, has entered into two separate sale and purchase agreements.
International Power, the UK power generator which is 70% owned by French utility GDF SUEZ, has entered into two separate sale and purchase agreements.
The company is selling its total shareholding of 17.4% in the Hub Power Company for a total of around €51m. The operations and maintenance for the Hub plant will continue to be carried out by an International Power subsidiary.
Meanwhile, the firm is acquiring an additional 20.1% of Uch 1, taking the group's holding up to 94.6%. The gross assets value of Uch 1 as at December 31st was €357m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"These transactions represent optimisation of our portfolio, where the sale of Hubco offers an attractive return and the additional interest in Uch 1 will result in an increased ability to maximise synergies between the two adjacent Uch plants," the company said.
The share price rose 2.31% to 381.40p.
NR
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Trouble brews in B&M as bargain shops take a hit
Opinion Once a stock market darling, B&M's share price has slumped. What has gone wrong for bargain shops?
-
US and China reach a ceasefire in their trade war after talks in London
The US and China's trading relationship – the most important one in the global economy – is back on track. Will the truce last?