Reuters: GDF Suez plans two-three billion euros in takeovers per year

French gas and power group GDF Suez plans two to three billion euros of "rotational" takeovers per year in the next three years but is not eying a major transformational merger operation, its chief executive said on Thursday.

GDF Suez Chairman and CEO Gerard Mestrallet told an earnings conference that GDF Suez is permanently studying lots of possible takeover targets and that in the first half of this year alone the firm had looked at targets with a combined worth of 20 billion euros (£15.86 billion), but had eliminated those that did not meet its investment criteria.

"In the three years to come, we intend to realise, on average, between two and three billions euros of M&A operations per year, so six to nine billion over the period," Mestrallet said.
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