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Joint acquisition of the three largest electrical giant Areva T & D business

2011-7-12   Source:   View:587

Shanghai Securities News reported Jan. 22 the three largest electrical giant Alstom, Schneider Electric announced yesterday with Areva, Alstom, Schneider Electric has signed an agreement with Areva, the joint acquisition of Areva T & D business. This means that the downstream electricity market to grasp the two giant companies will emerge. They also revealed that he will participate in the "smart grid" concept development.
It is understood, involves the acquisition of exclusive negotiations began in November 30, 2009. Since then, after consultation with the relevant employee representatives, the agreement finalized. However, the final completion of the transaction still needs to obtain the relevant competition authorities and the French National Commission on participation and the transfer of assets (CPT) approved the agreement, expected time in the spring of 2010. 
Areva T & D business is currently ranked third in the world. Completion of the acquisition, Alstom Areva T & D will take over the business in the transmission business, and about one-third of Areva's transmission and distribution business and distribution business will be covered by Schneider Electric. 
Reporters learned that after the acquisition, Alstom and Schneider Electric will maintain its development in various fields between the transmission and distribution links, including: the business area through cross-purchase agreement, the same standards in technology (hardware and software), and the "smart grid" concept to the common R & D and innovation. 
Another newspaper reporter learned from Areva, Alstom and Schneider Electric has submitted a transmission business to maximize the value of Areva's bid program. They proposed joint acquisition of the equity value of € 2.29 billion Areva's transmission business. As of June 30, 2009, AREVA T & D business, the net debt of approximately € 1.05 billion. 

Source: Shanghai Securities News