Schneider Electric and Alstom won the right to exclusive negotiations to acquire Areva T&D, the transmission and distribution operations of French nuclear power company Areva. Schneider stands to get the medium voltage side of the business. Schneider and Alstom said they propose to jointly acquire Areva T&D for an equity value of €2.29 billion (about $3.5 billion).
According to Schneider Electric's press release announcing the deal, Areva T&D's activities are currently number three worldwide, with transmission moving to Alstom (around two thirds of the business) and distribution to Schneider Electric (about one third), would transform Schneider Electric and Alstom into two of this market's global leaders with
• an upstream pole, with power generation provided by Alstom (turnkey power plants, turbines and generators), completed by transmission (very high and high voltage) transferred from Areva T&D to Alstom;
• a downstream pole, with electrical distribution of Schneider Electric reinforced by the medium voltage activities of Areva T&D.