GE could be in line for Areva T&D bid - report

2 September 2009 - Areva, may get an offer from GE for its electricity transmission and distribution unit, four people familiar with the matter said.

Bloomberg reported that GE may team up with Apollo Management LP and CVC Capital Partners Ltd. to submit an offer in time for a 18 September deadline, said the people, who declined to be identified because the talks are private.

France's Alstom SA and Schneider Electric SA have said they also plan to submit a joint offer for the unit, which was once part of Alstom. Axa Private Equity and Charterhouse Capital Partners LLP may also bid together, the people said.

State-owned Areva will probably get EUR4.25bn ($6bn) for the unit, based on the median estimate of nine analysts in a Bloomberg survey. Paris-based Areva put the division, which makes equipment for electrical grids, up for sale in June.

The company is seeking to raise as much as EUR10bn euros by 2012 to develop uranium mines and buy Siemens AG's share of a nuclear reactor joint venture.

Areva and GE declined to comment.

Sponsored by FLSmidth

Related Articles

Video: Duke Energy acquires Halifax Solar Project in North Carolina

Duke Energy Renewables (NYSE: DUK) has acquired a 20-MW solar project in Roanoke Rapids, North Carolina, from Geenex and ET Solar Energy Corp.

Westinghouse continues to provide nuclear fuel to French power plants

Westinghouse Electric Co. and EDF signed a new long-term nuclear fuel contract to support EDF’s nuclear power plants in France.

Follow Power Engineering on Twitter
Latest News

EIA: Coal-fired generation alive and well in the coming decade

Coal-fired power generation from existing plants will increase through 2025, this according t...

Report: Nuke dump radiation leak could have been prevented

A radiation leak that forced the indefinite closure of the federal government's only undergro...

Areva’s nuclear reactor vessel flaws may be “costly”

The French nuclear regulator says anomalies found in Areva’s nuclear reactor technology are “...

Southern Power acquires 32MW solar project from First Solar

Southern Co. (NYSE: SO) subsidiary, Southern Power, has acquired controlling interest in...

Second robot completes survey of Fukushima reactor containment vessel

A second shape-shifting robot completed a survey from inside of the Fukushima Daiichi nuclear...

PacifiCorp considers joining California ISO

PacifiCorp signed a memorandum of understanding to explore full participation in the Californ...

Herbert: Uranium shouldn't be in Utah before federal review

Gov. Gary Herbert said Thursday that he wants federal regulators to review how hazardous a ty...

Environmentalists press for bill to expand solar power

Environmentalists are urging lawmakers to back a bill they say would help more residents inve...

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Power Industry Wire News

Dais Analytic Corporation Appoints Eliza Wang to Board of Directors

Dais Analytic Corporation Appoints Eliza Wang to Board of Directors

Magnum Hunter Resources Chairman and CEO to Present at IPAA OGIS New York 2015

Magnum Hunter Resources Chairman and CEO to Present at IPAA OGIS New York 2015

GEI Global Energy Corp. Explores Solar Opportunities

GEI Global Energy Corp. Explores Solar Opportunities

Envision Solar Installs Solar-Powered EV Charging Stations in San Francisco as Part of "Driving on Sunshine" Campaign

Envision Solar Installs Solar-Powered EV Charging Stations in San Francisco as Part of ...

ZBB Energy and Solar Power, Inc. (SPI) Announce Global Strategic Partnership With an Initial Supply Agreement Valued at Between $80 Million and $120 Million

ZBB Energy and Solar Power, Inc. (SPI) Announce Global Strategic Partnership With an In...

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>