Engie

The story of Engie isn't about a startup in a garage, but the convergence of two massive European industrial players: Gaz de France and Suez. One of its predecessors, the Compagnie universelle du canal maritime de Suez, was formed in 1858 by Ferdinand de Lesseps to construct and operate the Suez Canal. The other, Gaz de France, was created by the French government in 1946 to manage the country's gas production and distribution. For decades, these entities operated in separate but related spheres. Suez, after losing the canal concession in 1956, reinvented itself through investments and mergers, becoming a global force in water, waste, and energy services. Gaz de France expanded its operations across Europe as energy markets liberalized. The major turning point came in February 2006, when the French government announced a plan to merge the two giants. The strategic goal was to create one of the world's largest liquefied natural gas companies and a dominant European utility. The merger, led by Suez CEO Gérard Mestrallet and Gaz de France CEO Jean-François Cirelli, was finalized on July 22, 2008. The new entity was named GDF Suez. The deal was structured as a merger of equals, with Gaz de France absorbing Suez through a share exchange. To satisfy regulators, Suez spun off its water and waste management divisions into a separate company. In 2015, seeking a more modern and international identity, GDF Suez rebranded itself as Engie, a name chosen to symbolize the transition to a new energy world.