EDF Approves Acquisition of 75.5 Percent of Areva by Year-End -Reuters

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The board of French state-owned utility EDF has given final approval for the acquisition of a 75.5 percent stake in Areva NP, the nuclear reactor construction unit of fellow state-owned nuclear group Areva, by the end of the year, Reuters reports citing unnamed sources.

--One source said the board had lifted required guarantees on the successful completion of Areva-designed EPR reactors in Flamanville, France, and Taishan, China, as these reactors should be starting up in the coming year, Reuters says.

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--The source also said that Areva would not, as it had originally wanted, keep a 15 percent stake in its former reactor unit because of European Commission objections, says Reuters.

Full story: http://reut.rs/2ocf9Up

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(END) Dow Jones Newswires

December 15, 2017 08:03 ET (13:03 GMT)