PARIS, May 4 - GDF Suez (GSZ.PA) and Total SA (TOTF.PA) have agreed to split a stake in a company formed to build and operate France's second new-generation EPR nuclear power plant at Penly, the companies said on Monday.
French Prime Minister Francois Fillon had granted GDF Suez a 33.33 percent block of shares plus one share in the company alongside partner EDF (EDF.PA), which will hold the majority of the capital.
"GDF Suez and Total agreed on a partnership agreement with respective stakes of 75 percent and 25 percent to jointly own this stake," the companies said in a statement.
The Penly plant will be the first nuclear project for Total, while the partnership reinforces GDF Suez's position in the nuclear sector.
EDF runs France's 58 nuclear reactors, but French President Nicolas Sarkozy wants GDF Suez to become another exporter of French EPR technology.
EDF will hold 50 percent plus one share of the capital in the construction of the plant in northern France. A further 16.66 percent share of the capital will be open to the participation of other electricity companies.
EPR (European Pressurised Reactor) facilities are state-of-the-art nuclear plants, although companies involved in setting them up have often faced cost overruns.
French Prime Minister Francois Fillon had granted GDF Suez a 33.33 percent block of shares plus one share in the company alongside partner EDF (EDF.PA), which will hold the majority of the capital.
"GDF Suez and Total agreed on a partnership agreement with respective stakes of 75 percent and 25 percent to jointly own this stake," the companies said in a statement.
The Penly plant will be the first nuclear project for Total, while the partnership reinforces GDF Suez's position in the nuclear sector.
EDF runs France's 58 nuclear reactors, but French President Nicolas Sarkozy wants GDF Suez to become another exporter of French EPR technology.
EDF will hold 50 percent plus one share of the capital in the construction of the plant in northern France. A further 16.66 percent share of the capital will be open to the participation of other electricity companies.
EPR (European Pressurised Reactor) facilities are state-of-the-art nuclear plants, although companies involved in setting them up have often faced cost overruns.
