EDF to Spend up to ?2 Billion On 75% Areva NP Stake

摘要

After nearly two months of intense discussions between EDF, Areva and their mutual majority-owner, the French government, the parties reached a non-binding agreement on Jul. 29 over the major terms of EDF’s purchase of a majority stake in Areva’s reactor division — Areva NP — formerly a separate company named Framatome. But the deal is far from definitive; EDF will now kick off a 14-week due diligence, as the two sides thrash out further contentious details. The utility, the world’s largest nuclear operator, will submit a binding offer for the Areva NP majority stake during the first quarter of next year, and the deal is expected to close by Jun. 30, 2016. The broad strokes of the agreement are as follows: