EDF Signs Agreement to Buy Stake in Areva's Nuclear Reactor Unit New NP

By Max Bernhard Features Dow Jones Newswires

EDF SA (EDF.FR) has signed an agreement with Areva SA to buy 75.5% of New NP, the French electricity provider said late Friday.

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The deal would value New NP, Areva SA's nuclear reactor unit, at EUR2.47 billion ($2.93 billion) for 100% of its shares, with no transfer of financial debt, the company said.

The valuation of New NP is based on its 2017 earnings before interest and taxes before depreciation and amortisation and may still be adjusted after final figures have been reported on Dec. 31, EDF said.

Depending on the certain performance targets, an additional EUR245 million price complement could be paid.

Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

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December 27, 2017 02:49 ET (07:49 GMT)