French and Benelux stocks-Factors to watch on Dec. 31

Mon Dec 31, 2012 2:41am EST

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Below are company-related news and stories from French and Benelux media which could have an impact on the region's markets or individual stocks.

CAC40 futures are down 0.8 percent at 0740 GMT

EDF

Spanish utility Iberdrola IBE.MC said on Monday it had signed a deal to sell its onshore assets in France for an initial payment of 350 million euros ($463 million) plus an additional payment of 50 million euros subject to conditions.

General Electric will own 40 percent of the company and MEAG, the asset manager of insurance company Munich Re and ERGO, another 40 percent. The French utility's unit, EDF Energies Nouvelles, will own the remaining 20 percent.

FRENCH TAXES France's Constitutional Council on Saturday rejected a 75 percent upper income tax rate to be introduced in 2013 in a setback to Socialist President Francois Hollande's push to make the rich contribute more to cutting the public deficit.

EURO ZONE

European shares closed the last full trading session of 2012 lower as wavering expectations of a deal to prevent the U.S. stumbling over its "fiscal cliff" left overbought indexes vulnerable to profit taking.

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