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Article: France : Toshiba plans $5.4 bln bid for Areva unit.

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TendersInfo
Article date:
September 4, 2009
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Byline: rakshali03

Japan's Toshiba Corp plans to bid for French nuclear group Areva's power distribution and transmission equipment unit in a deal that could cost it more than 500 billion yen ($5.4 billion), industry sources said.

Toshiba shares slid after news broke of the planned bid, which would put it up against a range of potential suitors including Alstom and Schneider Electric.

Areva, a state-controlled nuclear reactor maker, has put the unit up for sale, and French Economy Minister Christine Lagarde said this week she ...

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