|Bid||17.56 x 1961600|
|Ask||17.56 x 627900|
|Day's Range||17.12 - 17.87|
|52 Week Range||17.12 - 17.87|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
EU antitrust regulators will rule against French utility Engie's (ENGIE.PA) tax deals with Luxembourg in the coming weeks, a person familiar with the matter said, as the bloc continues its crackdown on corporate tax arrangements. It will be the third ruling by the European Commission against Luxembourg's tax deals with multinationals and the fifth against European Union countries including Ireland, Belgium and the Netherlands, and could result in Engie paying millions of euros in back taxes. The Luxembourg finance ministry, which has denied giving Engie any special treatment, said it would make a comment in due time.
The French government backs Jean-Pierre Clamadieu, chief executive of Belgian chemical group Solvay (SOLB.BR), to become chairman of gas and power group Engie (ENGIE.PA), a source close to the French finance ministry said on Monday. The source said Finance Minister Bruno Le Maire had met with Clamadieu on Monday and that the government, which owns 24.1 percent of Engie's capital, would support Clamadieu if he were to be proposed as chairman at a board meeting on Tuesday. A second source familiar with the situation said "there was a good chance" Clamadieu, a French national, would be chosen on Tuesday to succeed Gerard Mestrallet, who will retire in May.
Paris-based energy giant Total S.A. (TOT) will acquire France-based Engie’s upstream liquefied natural gas assets in a $1.49 billion deal. Both companies have a presence in Houston, and the deal includes an LNG export project with Houston ties. The assets Total is buying include Engie’s 16.6 percent stake in the Cameron LNG export terminal project in Hackberry, Louisiana.