ELYO TAKES OVER TRIGEN IN THE US.
Suez Lyonnaise's energy subsidiary Elyo has paid USUSD137 million to acquire the 47.3% of Trigen of the US. At USD23.50 a share, this represents a 19% premium to the stock's last closing price, and is above the USD22 per share Suez offered last November. Trigen Energy Corporation and Elyo entered into a definitive agreement on January 20, after a Special Committee of independent directors had determined that the transaction was fair to Trigen shareholders. Trigen will retain its name and headquarters in White Plains, New York0. Trigen is a leading developer, owner and operator of industrial, commercial and institutional district energy and combined heat and power (CHP) systems in North America. The company serves more than 1,500 customers with energy produced at 49 plants in 20 states, Canada and Mexico.
|Printer friendly Cite/link Email Feedback|
|Comment:||ELYO TAKES OVER TRIGEN IN THE US.|
|Article Type:||Brief Article|
|Date:||Feb 4, 2000|
|Previous Article:||ABB ALSTOM POWER WORKERS TAKE WORKS COUNCIL CASE TO MEPS.|
|Next Article:||WORK STARTS ON A NEW UNDERWATER POWER CABLE BETWEEN ITALY AND GREECE.|