Areva T&D India informed BSE that at the close of the bid process, the supervisory board of Areva, France, had received three binding offers from Alstom/Schneider, General Electric and Toshiba/INCJ.
The Supervisory Board of Areva met on November 30, 2009 to examine the bids. After review, the Supervisory Board of Areva asked the executive board to begin exclusive negotiations with the consortium, Alstom/Schneider. The said consortium offered 2.29 billion euros in equity value i.e. 4.09 billion euros in enterprise value.
