New SocGen commodities strategy expected by year-end
Société Générale plans to have fully integrated a new power and gas trading strategy by the end of 2010 after announcing the sale of its 49% stake in the 10-year Gaselys partnership with GDF Suez yesterday.
Speaking to Energy Risk today, Yves-Marie Gayet, deputy head of commodities markets at Société Générale Corporate & Investment Banking (SG CIB), says: “We are going to continue trading in power and gas in Europe but in a fully integrated model within SG CIB. We are hoping to fully integrate all the capabilities and expertise we have developed from Gaselys by the end of the year.”
According to GDF Suez, which will acquire the entire 49% stake, the decision to split the 10-year partnership was made
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