French energy major EDF and Dutch utility Nuon are reportedly favorites to acquire Gaz de France's 25.5% stake in the Belgian electricity firm SPE, reported Le Soir.
The news source noted that Gaz de France (GDF) needs to divest its stake in SPE as a pre-condition to satisfying the European Commission’s antitrust concerns regarding GDF’s merger with French energy major Suez.
GDF has reportedly selected EDF and Nuon as the most preferable buyers for its 25.5% stake in SPE. GDF will also have to sell its 57.25% stake in another Belgian utility, Distrigas, to address antitrust concerns.
Italian energy major Eni is widely considered the frontrunner to pick up GDF’s stake in Distrigas, ahead of European rivals EDF and E.ON. GDF’s merger with Suez is expected to be completed in mid-2008.