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Areva to evaluate bids for India T&D unit

Published on Mon, Nov 09, 2009 at 15:28   |  Updated at Wed, Nov 11, 2009 at 15:43  |  Source : CNBC-TV18
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French nuclear power giant Areva, which is selling its transmission and distribution (T&D) business, is expecting offers on Monday, reports CNBC-TV18's Tejal Badal. The company will take a decision based on the bids on November 16.

Areva, which has reportedly taken three unidentified bidders, will evaluate the bids for price, strategy and employment issues.

A French weekly has reported that that a joint bid put in by Alstom and Schneider have won though Areva has denied the reports.


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Areva is selling its T&D unit as part of a Euro 11 billion plan and proceeds of the sale will be used to fund expansion.

When the sale takes place, it would trigger an open offer in Areva’s India unit.

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