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Article: France: Toshiba plans $5 bln-plus bid for Areva unit -sources.
- Article from:
- TendersInfo
- Article date:
- September 5, 2009
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Byline: kusumv03
Japan's Toshiba Corp plans to bid for French nuclear group Areva's power transmission and distribution unit, four sources with direct knowledge of the situation said, in a deal that could top $5 billion.
Toshiba, which runs a far-flung electronics conglomerate, is banking on power generation for growth as it reins in investment in its recession-hit computer chip business. "If it manages to buy it for the right price, it would be a positive development," Deutsche Securities analyst Takeo Miyamoto said.
But the health of Toshiba's balance sheet is uncertain following a $5 billion capital hike in May, and its presence as the ...