Qatar Holding Said to Consider Joining GE’s Areva Bid

According to Bloomberg, “Qatar may join General Electric Co. and CVC Capital Partners Ltd. in their bid to buy Areva SA’s electricity transmission and distribution unit, two people familiar with the matter said.

Qatar Holding LLC, an investment unit of the Persian Gulf country’s sovereign wealth fund, hired New York-based investment bank Evercore Partners Inc. to advise on acquiring a stake in Areva’s unit should the GE-led bid succeed, said the people, who declined to be named because the talks are private. Officials at Doha-based Qatar Holding declined to comment.

Areva, the world’s largest maker of nuclear reactors, received three indicative bids worth less than 4 billion euros ($5.9 billion) for the unit, people close to the sale said last month. The French government, owner of 92 percent of Areva, may decide the division should be sold to a group formed by Alstom SA, the unit’s previous owner, and Schneider Electric SA, to preserve France’s economic interests, analysts have said. Toshiba Corp. also submitted an offer, the people said.

GE Energy spokesman Dan Nelson declined to comment. Officials at Evercore weren’t available to comment.”

read more: Bloomberg



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