Alstom-Schneider consortium launches open offer for Areva T&D
28 May 2010
A consortium of Alstom Holdings and Schneider Electric along with Areva T&D Holding SA and others today made an open offer to buy 20 per cent in Areva T&D India.
The offer comes after French nuclear major Areva SA agreed to sell its entire equity in Areva T&D Holding SA, its global electric transmission and distribution business, to a consortium of Alstom Holdings and Schneider group of companies for €2.29 billion in January.
The offer to buy an additional 47.82 million shares at a price of Rs295.34 rupees a share will open on 22 July and close on 10 August, banker to the offer DSP Merill Lynch said in a statement to the Bombay Stock Exchange.
Areva T&D Holding SA and other group companies including Areva T&D SAS and Long & Crawford Ltd together already hold 72.18 per cent in India's Areva T&D, the statement said.
Alstom Holdings and Schneider group of companies had earlier entered into a pact whereby the global transmission business of Areva T&D will go to the Alstom group of companies and the distribution to Schneider group, the statement added.
.jpg "RBI keeps repo rate unchanged as focus remains on inflation")
.jpg "Indian Oil, Panasonic team up for lithium-ion cell production in India")
