Bloomberg: GDF Said to Plan Sale of Stake in German Gas Storage Unit

GDF Suez SA is considering a sale of a stake in its German natural gas storage facilities as Europe’s biggest utility by market value seeks to pay off debt, according to three people with knowledge of the matter.

The 40 percent stake in Storengy Deutschland GmbH may fetch about 500 million euros ($605 million), said the people, who asked to remain anonymous as the company’s plans are private. GDF presently owns all of the company.   MORE