Source AP ©

Gaz de France buys 95 percent stake in Erelia

French gas giant Gaz de France said Tuesday it will buy a 95 percent stake in Erelia, a developer and operator of wind farms in France.

GdF said Erelia will have a capacity of 70 megawatts in northeastern France by the end of the year, bringing GdF's total capacity in wind power generation to 110 megawatts.

No financial details were available for the deal, which should be finalized during the fourth quarter of 2007.

The Basmanny Court of Moscow arrested Michael Calvey, the founder of Baring Vostok investment fund, on allegations of embezzling 2.5 billion rubles from Vostochny Bank. Calvey will be held in custody until April 13

Putin informed about arrest of US investor Michael Calvey
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