French energy giant GDF Suez said its North American subsidiary has agreed to buy U.S.-based FirstLight Power Enterprises, reports The Associated Press.
GDF Suez declined to say how much it was paying for FirstLight. French newspaper Le Figaro cited unidentified "banking sources" as saying the deal was valued at €1.28 billion ($1.87 billion).
The deal will add to GDF Suez's existing liquefied natural gas and gas operations in North America, and its power-generating assets and retail activities in New England and eastern Canada, GDF Suez said.
FirstLight is owned by U.S. private equity firm Energy Capital Partners, based in Short Hills, New Jersey, and San Diego. The company operates 15
power plants with total capacity of 1,538 megawatts.
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