Mitsubishi Heavy Industries (MHI) eventually confirmed it will takes an 19.5% equity share in NEW NP (the former Areva NP reactor business unit) as agreed earlier in July 2017, when the company signed binding agreements with the French utility EDF and Assystem. The transaction price has been set at €2.5bn for a 100% equity stake, excluding adjustments and earn-out provisions. The Japanese group is also expected to take 5% of New Areva Holding (NewCo), Areva's entity dedicated to the fuel cycle.
In November 2016, Areva and EDF inked a contract setting the terms of the sale of an interest conferring exclusive control by EDF of the NEW NP entity (a 100% subsidiary of Areva NP), that will combine Areva Group’s activities relating to design and equipment manufacturing of nuclear reactors. Under the deal with Areva, EDF bought a maximum of 75% of NEW NP on the basis of a valuation of €2.5bn for 100% of the capital, with the possibility of bringing partners into the capital of the company and thus go down to 51% of the capital.
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