Areva to start talks with French firms to sell distribution firm
December 1st, 2009 - 9:23 pm ICT by IANS ( Leave a comment )Mumbai, Dec 1 (IANS) Paris-based nuclear power major Areva Tuesday said it will hold talks with a consortium of French firms Alstom and Schneider for selling its transmission and distribution business for 2.29 billion euros ($3.45 billion).
The Indian operations of the nuclear power giant, Areva India T&D, is part of its transmission and distribution business that is put up for sale.
“The supervisory board of Areva had received three binding offers from Alstom/Schneider, General Electric and Toshiba,” Areva India T&D said in a regulatory statement.
“After review, the board asked the executive board to begin exclusive negotiations with the consortium, Alstom/Schneider. The consortium offered 2.29 billion euros in equity value,” it added.
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Tags: alstom, areva, consortium, distribution business, distribution firm, equity value, french firms, general electric, India, indian operations, negotiations, nuclear power, paris, power giant, schneider, supervisory board, toshiba
