France's GDF Suez Picks Up Stake In Nabucco Pipeline

Law360, New York (May 28, 2013, 3:43 PM EDT) -- French energy company GDF Suez SA will take a 9 percent stake in the Nabucco West Pipeline, one of two expansive projects competing for approval to run natural gas from Caspian Sea stores to western Europe in a bid to loosen Russia’s stranglehold on the market, it said Tuesday.

The firm did not say how much it would pay for the interest when it lifts ownership from Austria’s OMV AG, which will be left with roughly an 8 percent ownership share after the deal closes. With...
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