EU Clears EDF's Acquisition of Areva's Nuclear Reactor Business New NP

By Natalia Drozdiak Features Dow Jones Newswires

French state-controlled power utility Électricité de France SA's (EDF.FR) purchase of Areva SA's (AREVA.FR) nuclear reactor business was cleared by the European Union's antitrust regulator Monday, a step that will help Areva gain access to funding by the French government.

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The European Commission said plans by EDF to acquire up to 75% of Areva's nuclear reactors business New NP would not raise competition concerns.

The EU in January approved plans by the French government to grant Areva a capital injection of 4.5 billion euros ($5 billion) on the condition the deal to divest Areva's reactors business was also cleared.

The regulator also stipulated a positive conclusion to tests conducted by the French Nuclear Safety Agency of the Flamanville III nuclear reactor vessel, which is supplied by Areva.

Write to Natalia Drozdiak at natalia.drozdiak@wsj.com

(END) Dow Jones Newswires

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May 29, 2017 09:11 ET (13:11 GMT)