Areva considers T&D sale
06 May 2009
[Les Echos, 4 May] The French state has told Areva to explore the potential sale of its lucrative transmission and distribution business unit in order to raise funds. The state-controlled nuclear giant has to fund a major investment program, the buyout of Siemens from Areva NP as well as cost overruns on the Olkiluoto 3 project. Alstom is seen as a potential buyer of the €500 million-a-year business as well as a potential merger partner with Areva in France's industrial strategy. The unit aids Areva's business model as a full-scope provider and provides it with a comprehensive global presence.