EU Clears EDF's Acquisition of Areva's Nuclear Reactor Business New NP
29 May 2017 - 11:26PM
Dow Jones News
By Natalia Drozdiak
BRUSSELS--French state-controlled power utility Électricité de
France SA's (EDF.FR) purchase of Areva SA's (AREVA.FR) nuclear
reactor business was cleared by the European Union's antitrust
regulator Monday, a step that will help Areva gain access to
funding by the French government.
The European Commission said plans by EDF to acquire up to 75%
of Areva's nuclear reactors business New NP would not raise
competition concerns.
The EU in January approved plans by the French government to
grant Areva a capital injection of 4.5 billion euros ($5 billion)
on the condition the deal to divest Areva's reactors business was
also cleared.
The regulator also stipulated a positive conclusion to tests
conducted by the French Nuclear Safety Agency of the Flamanville
III nuclear reactor vessel, which is supplied by Areva.
Write to Natalia Drozdiak at natalia.drozdiak@wsj.com
(END) Dow Jones Newswires
May 29, 2017 09:11 ET (13:11 GMT)
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