As agreed in July 2016, AREVA and EDF have signed the contract setting the terms of the sale of AREVA NP's activities to EDF.
The French energy group will take over exclusive control of an entity named NEW NP, a 100% subsidiary of AREVA NP, that will combine AREVA Group’s activities relating to design and equipments’ manufacturing of nuclear reactor and, fuel design and assemblies manufacturing and services to the nuclear installed base. The transaction is on a debt-free, cash-free basis, i.e. not including Olkiluoto-3 in Finland or contracts relating to components forged in Le Creusot plant. The sale price for 100% of the equity value of NEW NP is confirmed at €2.5bn, excluding the potential price complements and adjustments and with no transfer of financial debt at the closing date. EDF will acquire up to 75% of NEW NP but could reduce its stake to at least 51% - discussions with strategic investors will start in the coming weeks - with Areva - Newco's stake at 15%.
The transaction – expected to be concluded over the second half of 2017 – remains subject to: obtaining favourable conclusions from the ASN regarding the outcome of the tests on the primary circuit of the Flamanville 3 reactor; completion and satisfactory conclusions of the quality audits at the Creusot, Saint-Marcel and Jeumont plants; approval from the relevant merger control authorities.
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