International Power plc - Interim Management Statement
(London - 19 April 2012) International Power plc (IPR) today publishes its Interim Management Statement in respect of the period 1 January 2012 to 18 April 2012.
The following commentary relates to the financial performance of the combined business of International Power for the three months ended 31 March 2012 and on a pro forma basis for both International Power and GDF SUEZ Energy International* for the three months ended 31 March 2011.
On 16 April 2012, the Independent Directors of IPR and the Directors of Electrabel S.A. (a wholly-owned subsidiary of GDF SUEZ S.A.) announced that they had agreed the terms of a recommended cash offer to be made by Electrabel S.A. for the shares of IPR that are not already owned by it. Under the terms of the offer, IPR shareholders will be entitled to receive 418 pence in cash for each IPR share. In addition, IPR shareholders will retain the right to receive the proposed final dividend of 6.6 euro cents per IPR share for the year ended 31 December 2011, as previously announced on 8 February 2012. Further details of the offer will be contained in the documentation which will be despatched to IPR shareholders on or before 14 May 2012.
Financial and Operating Update
Revenue for the three months ended 31 March 2012 was €4,257 million, up 5%. Our portfolio of assets has continued to perform well and in line with our expectations.
