International Power is an independent power generation company which has interests in over 45 power stations, and as reported by times online, has indicated that as a company which is still growing, is still open to suggestions of a possible tie-up similar to the proposals that came out of the failed talks with French utility giant GDF Suez earlier this year.
The company, which operates or is building power plants in 21 countries worldwide, including Australia, Britain, France and Germany confirmed in January that it had ended talks with GDF regarding the possibility of a partnership, which could have created a world-leading electricity group.
The discussions, which supposedly went on for several months, focused on how GDF Suez would introduce its electricity production assets outside Europe into International Power, giving the French group a majority stake in the bigger company, but negotiations were aborted when information was leaked before the two sides were ready to finalise any agreement.
However, according to the article, Phil Cox, International Power’s chief executive, has confirmed that he would be willing to consider proposals which are similar to those tabled by GDF Suez – as long as they were in the best interests of the group.
This announcement comes at the same time International Power, which was formed in 2000, when National Power, the larger of the two privatised UK electricity generators, was split into domestic and international companies, reports a 10% increase in full-year operating profits to £1.157 billion – better than expected with shares rising 1.8p to 330.5p in early city trading.
Source: business.timesonline.co.uk
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