EU Approves Restructuring Plan for France's Areva Group
January 10 2017 - 9:07AM
Dow Jones News
By Viktoria Dendrinou
BRUSSELS--The European Union approved Tuesday a restructuring
plan for French nuclear group Areva SA, saying a planned EUR4.5
billion ($4.76 billion) capital injection was in line with the
bloc's state-aid rules.
The European Commission, the EU's executive arm, said the
planned state aid is subject to conditions, including a positive
conclusion to tests being conducted by the French Nuclear Safety
Agency, and approval of the divestment of Areva's reactor business
under EU merger rules.
The restructuring plan "will allow the company to become viable
without unduly distorting competition in the Single Market," the
commission said.
EU rules allow state support to ailing companies, but only if
the firms have reasonable prospects of viability and if the program
is designed to have a limited impact on competition.
Write to Viktoria Dendrinou at viktoria.dendrinou@wsj.com
(END) Dow Jones Newswires
January 10, 2017 08:52 ET (13:52 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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