AREVA signs agreement for ALSTOM's T&D activities
Paris, France -- - On January 9, 2004, the AREVA Group signed the closing agreement for the final acquisition of ALSTOM's Transmission and Distribution activities.
AREVA has a strong industrial presence in over 40 countries. The Group provides technological solutions for nuclear energy production and electricity. AREVA also offers interconnect systems, principally in the telecommunications, computer and automotive markets.
The acquisition price should be 920 million Euros: the value of the company, which was calculated in September 2003 at 950 million Euros when the agreement to buy was made, should be adjusted for the closing agreement with an estimated reduction in price of 30 million Euros. This adjustment should be finalized in May 2004, following an audit to be carried out by AREVA with the right to reply.
The entire transaction will be financed using the Group's equity.
Through the integration of T&D, AREVA is strengthening its strategic position in the energy sector and expanding its range of services.
T&D supplies products, systems and services for the high and medium-voltage electricity markets. They are used to transmit and distribute electricity from the generator to the end user. They also ensure the reliability, quality, and safety of energy flows and operate efficient networks through information management.
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