Alstom and Schneider Electric signed an agreement with Areva for the acquisition of Areva T&D, its transmission and distribution business. This agreement comes as a result of the exclusive negotiations that started on Nov. 30, 2009, and after the completion of the consultation of the relevant employee representatives.
The closing of the transaction remains subject to the approvals of the relevant competition authorities and of the French Commission des Participations et des
Transferts (CPT), and is expected to occur in Spring 2010.
Alstom and Schneider Electric intend to build on the quality of the first contacts
established with the Areva T&D management.