EDF, Areva Agree to Settle Framatome Dispute
July 01 2021 - 2:01AM
Dow Jones News
By Pietro Lombardi
Electricite de France SA and Areva SA have reached an agreement
to settle their dispute over the 2017 acquisition by EDF of French
nuclear reactor business Framatome.
Under the agreement, Areva will pay the French energy company
563 million euros ($667.6 million) by the end of the year.
"This settlement and the enforcement of two arbitration awards
rendered on June 29, 2021 and today, resolve all disputes between
EDF and Areva relating to the Framatome acquisition contract
entered into in 2017 and to their business relations prior to the
acquisition," the companies said in a statement late Wednesday.
EDF acquired the majority of Framatome in 2017 and currently has
a 75.5% stake, according to Framatome website.
Write to Pietro Lombardi at pietro.lombardi@wsj.com;
@pietrolombard10
(END) Dow Jones Newswires
July 01, 2021 01:56 ET (05:56 GMT)
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