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iWonMoney.com/Dow Jones Newswires: Shell Sells Stakes In Distrigas, Fluxys To Suez: U.K. oil giant Shell Trading & Transport Co. PLC has sold its stakes in Belgian gas distributor Distrigas SA and gas transporter Fluxys, French utilities giant Suez announced Thursday. (ShellNews.net Posted 19 Nov 04

 

BRUSSELS -(Dow Jones)- U.K. oil giant Shell Trading & Transport Co. PLC (SC) has sold its stakes in Belgian gas distributor Distrigas SA (DIST.BT) and gas transporter Fluxys (FLUX.BT), French utilities giant Suez (SZE) announced Thursday.

 

In a filing to pan-European stock exchange operator Euronext, Suez said Shell's Belgian subsidiary, Belgian Shell, sold its 16.67% stake in Distrigas and Fluxys on or before Nov. 16. The shares will be split between Suez and Belgian municipalities.

 

As a result of the transaction, Suez's stake in Distrigas and Fluxys will rise to 47%, up from 38.5% and 35.1%, respectively. Municipalities will control 20.94%, up from 16.75%. A common holding firm between Suez and local municipalities will control 20.78%, up from 16.62%.

 

-By Steve de Bonvoisin, Dow Jones Newswires; +32-2-285-0137; steve.debonvoisin@dowjones.com

 

  Dow Jones Newswires

  11-18-04 1155ET

  

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