Schneider, Alstom finalize deal to buy Areva T&D

Schneider Electric and Alstom, both Paris-based electrical manufacturers, signed an agreement for the purchase of the transmission and distribution assets of nuclear conglomerate Areva. This follows from exclusive negotiations begun Nov. 30, 2009. Under terms announced then, Schneider Electric will handle the distribution end of the business and Alsthom will handle transmission. The deal is still subject to approvals from regulators in France.