The European Commission has given an anti-trust clearance for the proposed combination of the assets of the UK based International Power and French utility GDF Suez.
As part of achieving the clearance, GDF Suez has agreed to divest a stake that International Power owns in the 420MW T-Power combined-cycle gas turbine (CCGT) project in Belgium during 2011.
Last year, the companies signed a deal under which GDF Suez will infuse its Energy International Business Areas (outside Europe) and certain assets in the UK and Turkey into International Power in order to create an enlarged International Power (New International Power).
Following completion of the combination, International Power shareholders will own 30% of New International Power and GDF Suez will own the remaining interest.