History
Gaz de France was created with its sister company Électricité de France (EDF) in 1946 by the French Government. After the liberalisation of Europe’s energy markets, Gaz de France also entered into the electricity sector, having developed combined natural gas-electricity offerings.
With part-privatisation EDF and Gaz de France latterly became two totally separate entities, with each controlling a distribution subsidiary responsible for running its distribution system. For Gaz de France, this was the Gaz de France Distributor. Together, these two distributors managed a joint department, “EDF Gaz de France Distribution” formerly called “EDF GDF Services, which was responsible for field-based activities (meter reading, activating connections, engineering work, etc.). In January 2008 EDF Gaz de France Distribution was split into two entities: ErDF (Électricité réseau distribution France), 100% owned by EDF, and GrDF (Gaz réseau distribution France), wholly owned by Gaz de France (and now by GDF Suez).
The company's capital was partially floated on the Paris Stock Exchange in July 2005, raising €2.5 billion for the French Government. The government continued to hold an approximate 80% stake in the company until the 2008 merger with Suez. The French state now holds approximately 35.7% of GDF Suez.
Read more about this topic: Gaz De France
Famous quotes containing the word history:
“The only thing worse than a liar is a liar thats also a hypocrite!
There are only two great currents in the history of mankind: the baseness which makes conservatives and the envy which makes revolutionaries.”
—Edmond De Goncourt (18221896)
“The history of mens opposition to womens emancipation is more interesting perhaps than the story of that emancipation itself.”
—Virginia Woolf (18821941)
“No one can understand Paris and its history who does not understand that its fierceness is the balance and justification of its frivolity. It is called a city of pleasure; but it may also very specially be called a city of pain. The crown of roses is also a crown of thorns. Its people are too prone to hurt others, but quite ready also to hurt themselves. They are martyrs for religion, they are martyrs for irreligion; they are even martyrs for immorality.”
—Gilbert Keith Chesterton (18741936)