NEWS
Centrica shares rise amid bid speculation
London, Aug 24 (LNG journal)
- Centrica, the UK gas and energy supplier and trader with interests in North America and Europe, saw its shares rise more than 5 percent on Wednesday amid speculation it could be the target of a $16 billion takeover bid.
Among its liquefied natural gas interests, Centrica signed a 15-year LNG supply contract with Petronas of Malaysia a year ago to start in 2007 and is also interested in developing a possible LNG import terminal on the Thames east of London.
Centrica shares on the London Stock Exchange were up around 5.5 percent at midday to 256.75 pence ($4.50) as dealers said there was speculation in the market that the UK's biggest gas supplier could be acquired.
Among potential suitors for Centrica, which owns the Direct Energy business in the US and Canada, were Royal Dutch Shell, Norsk Hydro and Gaz de France, analysts said.
