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Areva:Binding Bids From Alstom/Schneider,GE,Toshiba For T&D Unit

PARIS -(Dow Jones)- French state-controlled nuclear group Areva SA (CEI.FR) Monday said it has received three binding offers for its transmission and distribution unit Areva T&D.

The bids have been made by an all-French consortium of Alstom SA (ALO.FR) and Schneider Electric SA (SU.FR); Japan's Toshiba Corp. (6502.TO), teaming up with Japan's sovereign fund INCJ; and U.S.-based General Electric Co. (GE), Areva said.

The group said it is now assessing the three offers but didn't disclose any details, notably about the prices offered by each bidder.

With EUR5.07 billion of annual sales, the T&D unit accounted for 38% of Areva's total revenue in 2008. Areva develops and builds nuclear reactors, provides nuclear sector services and mines uranium, among other activities.

Company Web site: www.areva.com

-By Geraldine Amiel, Dow Jones Newswires; +33 1 40171740; geraldine.amiel@ dowjones.com;

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  11-09-091239ET
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