Agreement Signed For EUR 4.09 Billion Acquisition Of Areva T&D
Written by NucNet
Thursday, 21 January 2010
Alstom and Schneider Electric has signed an agreement with Areva for the acquisition of Areva T&D, its transmission and distribution business.
Terms of the sale, at a price of 4.09 billion euro (5.7 billion US dollars) include a commitment to maintain all European T&D sites for three years and guarantees for the workforce. An Areva statement yesterday said this means all European employees would be offered a similar position in the same geographical area.
“Unless the economic situation deteriorates significantly, there will be no layoff programme except for voluntary terminations,” the statement said.
The closing of the transaction remains subject to the approvals of the relevant authorities and of the French Commission des Participations et des Transferts.
