French utility GDF Suez (GSZ.FR) said Tuesday it sold, through its Belgian unit Electrabel, its remaining 11.7% stake in Belgian power distribution systems operator Elia System Operator SA (ELI.BT) for EUR153 million.

GDF Suez's Electrabel closed the procedure of accelerated bookbuilding Tuesday that was launched in the morning for the sale of the shares held within Elia.

As a result of the bookbuilding operation, which was more successful than expected, "GDF Suez completely steps out of the capital of Elia by selling 11.7% of the company," it said.

The sale of the remaining stake represented EUR153 million at the price of EUR27 a share.

The transaction represents a capital gain of EUR120 million for GDF Suez, the group said.

-By Geraldine Amiel, Dow Jones Newswires; +33 1 40171740; geraldine.amiel@dowjones.com;
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