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Paris: On Wednesday 1 July 2009, AREVA T&D India Ltd informed the Stock Exchanges in India of the AREVA group’s announcement of its decision to put its global Transmission and Distribution business (AREVA T&D) up for sale, as one of the steps to be taken to finance the Group’s long term growth.
This is to clarify further that:
An open call for bids will be launched for the purchase of AREVA T&D globally and the AREVA group will pay special attention to the price offered and also the industrial and labor projects from the potential buyers.
Depending on the interest generated, the decision to dispose of AREVA T&D globally, or not, and the choice of a potential buyer will be taken before the end of the year.
AREVA T&D is the principal shareholder of AREVA T&D India Ltd.
Karim Vissandjee, Chief Financial Officer of AREVA T&D (globally) and Board Member of AREVA T&D India Ltd stated that, if the sale of AREVA T&D proceeds:
- The sale will NOT involve a separate and independent sale of AREVA T&D India Ltd.
- The shares in AREVA T&D India Ltd currently held by AREVA T&D would be transfer directly to the new shareholder.
- This will not involve a delisting of AREVA T&D India Ltd.
- AREVA T&D will not be dismantled.
- AREVA T&D will continue to follow its current market strategies in the Indian market.
- AREVA T&D will comply with all regulations applicable to AREVA T&D in India.
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