France's GDF Suez, Europe's largest utility, plans to invest some €300 million ($442.9 million) to buy one-third of the gas and water utility of the city of Wuppertal in western Germany, reports Reuters.

GDF Suez' Electrabel unit plans to pay some €145 million in cash for the stake and to give the Wuppertal utility access to parts of its own generation capacity that are valued at some €150 million, the local utility said.

Wuppertal's WSW utility had been seeking a new investor since it forced RWE, Germany's largest power producer, to sell its 20% stake in the local energy provider.

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