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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/french-firm-completes-power-merger.jpg"><img class="alignnone size-full" title="International Power has six plants in the UK, including the giant coal-fired station at Rugeley in Staffordshire" src="http://londonglossy.com/wp-content/uploads/2011/02/min-french-firm-completes-power-merger.jpg" alt="International Power has six plants in the UK, including the giant coal-fired station at Rugeley in Staffordshire"/></a></p>
<p>A UK power firm has fallen into foreign ownership as a merger between International Power and France&#8217;s GDF Suez was completed.</p>
<p>The deal, which will see GDF own 70% of the newly formed business, combines International&#8217;s 45 power stations with the French firm&#8217;s international assets.</p>
<p>International Power has six plants in the UK, including the giant coal-fired station at Rugeley in Staffordshire which powers the equivalent of half a million homes.</p>
<p>It also owns the gas-fired station at Saltend, near Hull, and is a majority owner in the First Hydro hydroelectric plants at Dinorwig and Ffestiniog in north Wales.</p>
<p>The merger comes after British Energy was bought by another French company, EDF, for £12.5 billion in 2008. It leaves Britain owning just two independent energy producers in Centrica and Scottish &#038; Southern Energy.</p>
<p>A report by the Office of Fair Trading recently revealed more than a third of the UK&#8217;s infrastructure &#8211; such as energy, water and transport &#8211; is under foreign ownership.</p>
<p>Sir Neville Simms, chairman of International Power, said: &#8220;This is a major milestone in the development of International Power.</p>
<p>&#8220;The enlarged group has a strong pipeline of committed new-build projects already in the course of construction and enhanced access to further significant growth opportunities through its broader global presence.&#8221;</p>
<p>The tie-up, which was approved by 99% of International&#8217;s shareholders, will make GDF the world&#8217;s largest utility by revenues, while the newly formed business will employ a combined 11,000 people.</p>
<p>Gerard Mestrallet, chairman and chief executive of GDF, said: &#8220;International Power offers an attractive growth profile with an unparalleled and balanced portfolio of assets. Our new group is ideally positioned in the regions where 80% of tomorrow&#8217;s production capacity needs will occur.&#8221;</p>
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