BWI: Transmission and Distribution: AREVA T&D Clarifies Media Reports on Potential Sale

Press release from Business Wire India
Source: Areva T&D India
Friday, July 03, 2009 04:19 PM IST (10:49 AM GMT)
Editors: General: Consumer interest; Business: Accounting & management consultancy services, Business services, Energy companies, Financial Analyst, Heavy industries, Stock exchanges
--------------------------------------------------
Transmission and Distribution: AREVA T&D Clarifies Media Reports on Potential Sale


Paris, France, Friday, July 03, 2009 -- (Business Wire India) -- 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.

More about AREVA T&D

All over the world, AREVA provides its customers with solutions for carbon-free power generation and electricity transmission. With its knowledge and expertise in these fields, the group has a leading role to play in meeting the world's energy needs.

Ranked first in the global nuclear power industry, AREVA's unique integrated offering covers every stage of the fuel cycle, reactor design and construction, and related services.

In addition, the group is developing a portfolio of operations in renewable energies. AREVA is also a world leader in electricity transmission and distribution and offers its customers a complete range of solutions for greater grid stability and energy efficiency.

Sustainable development is a core component of the group's industrial strategy. Its 75,000 employees work every day to make AREVA a responsible industrial player that is helping to supply ever cleaner, safer and more economical energy to the greatest number of people.

AREVA's T&D division is an active player around the globe. It designs, manufactures and supplies a complete range of equipment, systems and services for all stages in the transfer of electricity, from the generator to the large end-user. www.areva-td.com.

AREVA T&D currently employs over 4,600 people in India. AREVA T&D India Ltd. currently has 14 manufacturing units and 22 sales offices. The company has been a trend-setter in the field of High-Voltage Switchgear; first to build the 765 kV substation in India with NTPC at SIPAT, Chhattisgarh. Around 70% of load flow in India is managed by AREVA T&D's Automation Solutions Division. The company has to its credit a complete range of T&D Products, Systems, Services and Automation solutions.


CONTACT DETAILS
Marie Emery-Leleu, AREVA T&D Press Office, +33 1 34 96 31 82
Anais de Bourayne, AREVA T&D Press Office, +33 1 34 96 31 81
Vandana Dhir, Areva T&D, +91 9717791521, vandana.dhir@areva-td.com

KEYWORDS
CONSUMER, CONSULTANCY SERVICES, BUSINESS SERVICES, ENERGY, Financial Analyst, HEAVY INDUSTRIES, STOCK EXCHANGES

If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.

Submit your press release at http://www.businesswireindia.com