The Areva Supervisory Board has announced about its exclusive pact with Alstom and Schneider Electric for the acquisition of the activities of its transmission and distribution business, Areva T&D.
The aim of these negotiations between the three is to finalise the disposal agreement which should ultimately need the approval of the “Commission de la Participation et des Transferts”, the view of employee representatives and the agreement of the competition authorities. Schneider and Alstom restate that they propose a project which maximises the value of the company and creates a coherent framework to develop Areva T&D’s activities, supported by strong commitments to Areva T&D’s employees.
The proposed integration of Areva T&D’s activities, currently numbering three worldwide, with Transmission moving to Alstom and Distribution to Schneider Electric, would transform Schneider Electric and Alstom into two of this market’s global leaders. Alstom and Schneider Electric are opening up possibilities for industrial, commercial and technological synergies which until now have not been available to Areva T&D.
Alstom and Schneider Electric will preserve and develop the links between transmission and distribution in all areas, commercial, through cross-purchasing agreements, technological, via the adoption of identical standards (hardware and software) and on innovation through an ambitious common R&D programme on the “smart grid” concept.
