Electricite de France Forms Joint Venture with Areva NP

Published: May 17 2017
Deal Summary

Electricite de France S.A. (EDF), a state-owned integrated energy company, has formed joint venture with Areva NP, a company engaged in design and construction of nuclear power plants and research reactors, to provide (studies, procurement support, assembly and commissioning services for projects involving nuclear islands and control systems for new reactors being built, both in France and around the world. The joint venture company is named EDVANCE.

Under the joint venture agreement, EDF will own 80% of EDVANCE’s capital, while Areva NP will own 20%. This new company is set up independently from EDF’s acquisition of the exclusive control over New Areva NP, planned for the end of 2017.

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