Engie Sees U.S. Tax Reform as Having Benign Impact

France's Engie SA (ENGI.FR) said it expects a "neutral or slightly positive impact" from the recent U.S. corporate tax overhaul.

"The subsidies to the renewables business have been preserved, which was important for our development," a spokeswoman for the French utility said.

Engie recently disposed some of its activities in the U.S. which is why the changes in the valuation of deferred tax assets will only have a very limited impact on the company, the spokeswoman said.

The company anticipates an accounting charge of less than 100 million euros ($122.6 million) as a result of the changes.

Write to Nina Trentmann at Nina.Trentmann@wsj.com, @Nina_Trentmann

(END) Dow Jones Newswires

January 22, 2018 10:30 ET (15:30 GMT)