From Friday:

International Power downgraded

Shares in International Power fell in early deals as DKW downgraded the UK utility to sell from hold.

In a note to clients, Dresdner Kleinwort Wasserstein said International Power's share price is up 10% in the last week, driven by earnings upgrades and bid hopes.

Dresdner played down hopes of a bid and cautioned that the high gas prices in the wake of hurricane Wilma in the US may be temporary.

Turning to M&A talk, it believes an RWE bid is highly unlikely; the German group is selling its US water operations and seems unlikely to want to make a new investment in the region in the near term.

Nor, in its view would, RWE be interested in generation capacity in Australia, Pakistan, Malaysia, Indonesia or the Middle East, which makes up 40% of the portfolio.


And today:

Japan's Sumitomo, 2 Europe firms to start 1.3 bln usd Bahrain power project
AFX


TOKYO (AFX) -- Sumitomo Corp and two European firms will begin a 1.3 bln usd power generation and water desalinization project in Bahrain by purchasing a state-owned plant, the Nihon Keizai Shimbun reported.

In its online edition the newspaper said the completed project is expected to meet 20 pct of Bahrain's total power needs and 65 pct of its urban water demand.

The partners plan to sell electricity and water to the government for 20 years.

Sumitomo's partners are leading UK power supplier International Power and Belgian electricity company Suez Tractebel.

The three firms will set up a joint venture to manage the project, the newspaper said.

It said they will buy a power generation-water purification plant in northeastern Bahrain that can generate one mln kilowatt-hours of electricity and desalinate 135,000 tons of sea water a day.

The firms will also build a new desalination plant with a daily capacity of 270,000 tons, scheduled for completion by November 2007.

The venture will be capitalized at 260 mln usd, with Sumitomo and Tractebel each contributing 30 pct and International Power 40 pct. Any remaining costs will be covered with bank loans.

International Power Plc goes Ex-dividend (8.28 GBp) wed 26th may '10.

Harry - I have it as 12.53p

Would be nice but it's 8.28p paid 24/6

Full year dividend is 12.53p

You have answered your own question, skinny. Interim divi was 4.25p (30/09/09) + this final divi of 8.28p.
Nasty head & shoulders forming on the graph & bid rumours gone away for the foreseeable future, would expect this to get knocked back immediately after the ex-divi date.

Harry - to some of us the full year figure is important :-) On a serious note, I can also see NG (which I also hold) coming off by more than the dividend next month.

Annual General Meeting 2010

(London - 18 May 2010) At the International Power plc Annual General Meeting,
held today at The Lowry Hotel Manchester, all resolutions were passed on a show
of hands. A summary of proxy votes received will be placed on the Company's
website www.ipplc.com.

Following approval by the Company's shareholders, the Company confirms that the
final dividend of 8.28 pence per ordinary share will be paid on 24 June 2010 to
shareholders on the register on 28 May 2010.

International Power IPR......

never mind the bid prospects the TA chart pattern is indicating a target SP of 370p

Interesting to see all the broker interest, little wonder on a lowly P/E of just over 10 going forward......

International Power PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

The Royal Bank of Scotland NV
08-07-10 BUY 636.10 28.76 12.92 569.04 27.06 13.33

Evolution Securities Ltd
06-07-10 ADD 28.60 12.90 26.90 13.50

Charles Stanley
02-07-10 ACCU

Ambrian Partners Limited
13-05-10 BUY 629.40 27.80 13.00 675.60 29.40 14.00

Eden Group
06-05-10 BUY

Nomura Research Institute [R]
11-08-09 BUY 705.00 31.60 12.60 770.00 34.10 13.60

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 633.14 28.67 12.91 616.13 26.97 13.42

1 Month Change -0.86 -0.06 -0.01 52.55 -0.09 0.09
3 Month Change 36.14 2.07 -0.29 -0.34 -0.22 0.17


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS 12.56% -24.58% -5.93%
DPS 17.26% 0.54% 3.98%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA 1,688.00m 1,410.28m 1,394.79m

EBIT 1,310.00m 1,062.00m 1,093.00m

Dividend Yield 4.08% 4.10% 4.26%

Dividend Cover 2.96x 2.22x 2.01x

PER 8.28x 10.98x 11.68x

PEG 0.66f -0.45f -1.97f

Net Asset Value PS 223.44p 315.15p 323.61p

Just look at the NAV per share from the Hemscott List above, little wonder theres bid interest in this..........

Net Asset Value PS 223.44p 315.15p 323.61p

Hardly any market premium.

Got to be way undervalued.

12 month high today.

Interim Management Statement.

Final Results.

Reported4 financial highlights
· Revenue €16,167 million (2010: €11,382 million)

· EBITDA €4,225 million (2010: €2,534 million)

· Adjusted current operating income €2,978 million (2010: €1,742 million) - up 71%

· EPS of 27.9 euro cents (2010: 30.4 euro cents) excluding exceptional items and specific IAS 39 mark to market movements - down 8%

· EPS of 28.1 euro cents (2010: 29.0 euro cents) including exceptional items and specific IAS 39 mark to market movements - down 3%

· Free cash flow of €2,698 million (2010: €1,554 million)

Power Purchase Agreements Signed for Two 220MW Geothermal Projects in Indonesia


2 March 2012 - GDF SUEZ and International Power (70% owned by GDF SUEZ) announce that IPR-GDF SUEZ Asia, together with project partners PT Supreme Energy and Sumitomo Corporation, has signed 30-year Power Purchase Agreements (PPAs) for two 220MW geothermal projects with PLN, the state-owned utility of Indonesia. The Ministry of Finance of the Republic of Indonesia has issued a Government Guarantee Letter for the two projects, covering the obligations of PLN under the PPA.

The two projects, called Muara Laboh and Rajabasa, are planned to be built on Sumatra island to deliver power to the region which continues to experience high demand growth. Both projects are included in the Indonesian Government's second fast-track programme, of which around 4,500MW should come from geothermal sources. Signing of the PPAs is a necessary pre-condition to commencing exploratory drilling for geothermal resource. Following confirmation of the resource, project financing and EPC (Engineering, Procurement and Construction) arrangements will be negotiated. Subject to the timing of these, both projects are expected to start operation in 2016. IPR-GDF SUEZ Asiahas a 35% interest in the projects.

RNS Number : 9924Z

International Power plc

27 March 2012

Paiton 3 Plant in Indonesia Starts Commercial Operation

27 March 2012 -- GDF SUEZ and International Power (70% owned by GDF SUEZ) are pleased to announce that Paiton 3, a highly efficient 815MW coal-fired power plant in Indonesia, has started commercial operation.

Paiton 3, located on Java Island, will be the first super-critical coal unit in Indonesia and the largest generating unit on the Java-Bali grid. The output from Paiton 3 will be supplied to PT PLN (Persero), the Indonesian state utility, under a 30-year Power Purchase Agreement (PPA).

International Power owns 40.5% of PT Paiton Energy, which owns and operates the Paiton plants, including the existing Paiton units with a total capacity of 1,280MW. The other shareholders in PT Paiton Energy are Mitsui & Co., Ltd (40.5%), The Tokyo Electric Power Company, Inc (TEPCO) (14%) and PT Batu Hitam Perkasa (5%).

GDF Suez bid for remainder of International Power

StockMarketWire.com

International Power (IPR) has received a non binding indicative proposal of 390p per share in cash from GDF Suez (GDFS) to acquire the issued and to be issued ordinary share capital in IPR not already owned by GDFS as a majority shareholder.

The proposal is subject to certain pre conditions and there can be no certainty that an offer will ultimately be forthcoming or on the terms on which any offer might be made.

IPR has told its shareholders they will be kept informed of relevant developments and in the meantime are advised to take no action.

At 10:18am:
(LON:IPR) International Power share price was +20.85p at 404.25p


Story provided by StockMarketWire.com

"GDF SUEZ's new bid for the remaining stake in utilities giant International Power (raised from 390p to 418p per share) is now close to Investec's expectations and the broker expects the offer to 'progress smoothly to its conclusions'.

The broker does not foresee much regulatory risk: "Given that GDFS already owns 70% of IPR, we do not think that there will be too much of a problem with regulatory clearances, especially as the original IPR/GDFS deal went through the merger clearance process from August 2010 to February 2011," Anastasiou added.

Investec has removed its buy rating for International Power and now recommends investors to hold the stock following the sweetened bid. The broker's target price is raised from 417p to 422p."

So it's all about signed and sealed now.
I would like to think that 'chocolat' the thread founder has still got an interest in these and is going to make some money.
Not seen anything of chocolat for some time.
If you are around chocolat it would be nice to see you post on here again :-)