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Areva to buy Alstom's T&D business in India
NEW DELHI,
APRIL 7.
The French nuclear energy major, Areva, will acquire its compatriot Alstom's transmission and distribution business in India for Rs. 80.60 crores and has also made an open offer for buying 20 per cent stake from Alstom's shareholders at Rs. 75.03 per share.
Areva T&D SA has agreed to buy the shares of Alstom from its promoter Alstom Holdings SA at a price of Rs. 30.45 per equity share. Alstom Holdings has 66.35 per cent stake or 2.64 crore shares in its Indian arm.
If Areva buys out all the shares, the total amount would be 14.5 million Euro (Rs. 80.60 crores).
Areva has also made an open offer to buy 20 per cent stake comprising about 79.77 lakh shares from the shareholders of Alstom at a price of Rs. 75.03 per share, the manager to the offer HSBC Securities and Capital Markets said today. The offer would open on May 30 and close on June 18. — PTI
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