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Alstom gets offer from Areva

By Our Special Correspondent

NEW DELHI DEC. 30. The global energy specialist, Alstom India, today said it had received a binding offer from Areva for the purchase of its Transmission & Distribution (T&D) operations in India. This follows the anti-trust clearance received from the European Commission and from American antitrust agencies on the acquisition by Areva of global T&D operations of the Alstom group.

The company confirmed that while this transaction was close to completing on a world-wide basis, this did not include the T&D operations in India.

However, subject to its becoming effective in other countries, the offer encompasses T&D operations contained within Alstom Limited and T&D operations within Alstom Projects India Limited for a consideration of 14.3 million euros and 8.01 million euros respectively.

This is provided that Alstom bears all the costs of transfer of these operations to Areva and that the transfers are completed by December 31, 2004.

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