The Engie group (formerly GDF-Suez) is dividing up its Belgian and Dutch branches, which means Electrobel could go back on the Stock Market, l’Echo said on Thursday. The project, code named Bianca, is expected to go ahead, though it is still in the very early stages. The project could create a spin-off, L’Echo said. The group already did this in 2008, putting Suez Environment on the Stock market.
Every Engie shareholder will get Electrabel shares, which will be divided into its Belgian and Dutch branches. Their assets include seven nuclear reactors. This is a way for Engie to reduce its participation in the company and the risks that go with it. It will also let it increase its profile, as it is now concentrating on emerging markets and energy transition. The project, if it goes ahead, will not happen until 2016.