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.
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.
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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.
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(END) Dow Jones Newswires
May 29, 2017 09:11 ET (13:11 GMT)