UPDATE 3-Areva gets 3 transmission/distribution unit offers

Mon Nov 9, 2009 7:31pm GMT
 
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* Offers from Toshiba, GE and Schneider/Alstom

* Areva says will now review bids

* GE bids solo; Toshiba with Japanese fund

By Nina Sovich and Nathan Layne (Updates story with confirmation of bidders)

PARIS, Nov 9 (Reuters) - French nuclear reactor builder Areva SA (CEPFi.PA) said Monday it has received three binding offers, as expected, for its electricity transmission and distribution (T&D) business.

All three bidders that were in the running in recent weeks put in final offers, although the make-up of the consortiums changed slightly.

U.S.-based General Electric Co (GE.N) made a solo bid, after weeks of intense negotiations with various financial partners -- including CVC Capital Partners and the private equity arm of AXA SA (AXAF.PA) -- failed to come to fruition.

Japan's Toshiba Corp (6502.T) made an offer in consortium with the investment fund Innovation Network Corp of Japan, leaving behind a previous partner with whom it had been linked, the Abu Dhabi National Energy Co or Taqa TAQA.AD. [ID:nL9177274]

French partners Alstom SA (ALSO.PA) and Schneider Electric SA (SCHN.PA) also made a joint offer, as expected.  Continued...

 

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