Alstom, Schneider may jointly bid for Areva T&D biz
“Schneider Electric and Alstom envisage submitting a joint offer” for the T&D operations, the two companies said in a statement issued in Paris.
If successful in the bidding process, the two companies would break up the T&D unit, with the transmission operations going to Alstom and Schneider taking over the distribution business. They gave no details of the price they might offer for the Areva business. However, agency reports, quoted analysts as valuing Areva’s global T&D operations at €3-5 billion ($4.2-6 billion).
According to the two companies, the joint offer will optimise the strategic, industrial and commercial strengths that they can bring to each of the two areas of T&D and maximise the value of the business. “This offer would consequently be more attractive for the vendor,” they said.