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

By Natalia DrozdiakFeaturesDow 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.

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.

Write to Natalia Drozdiak at

(END) Dow Jones Newswires

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