Alstom and Schneider Electric have announced they are in exclusive talks to buy Areva T&D, the transmission and distribution business of Areva. The French companies have offered a little more than 4 billion euros for the unit, which includes equity and debt.
Areva Distribution had sales in 2008 of 1.7 billion euros. Nearly half its business was in emerging economies.
Alstom is said to be taking control of the transmission side of the business, while Schneider will take the distribution side of the business.
The deal may face legal challenges. According to reports throughout the world, Alstom and Schneider’s bid beat out what some have called better offers.
More details in this news release.
Or look at the presentation given by the two companies on the deal.
