Areva makes offer for Transelektro

Analysis

French engineering giant Areva has made an offer for troubled Hungarian holding company Transelektro Rt, Népszabadság reported on Wednesday, citing unnamed sources.

According to the paper, Areva's offer is lower than another by the Belgian unit of India's Compton Greaves, but notes that any decision will be influenced by the percentage of Transelektro's debts to creditors potential buyers agree to repay.
A shareholders' meeting of Ganz Transelektro Villamossági (GTV), which exercises ownership rights over Transelektro, made no decision on a buyout offer by Crompton Greaves on Tuesday. The company said talks are ongoing on the sale of the company's shares with several potential buyers, without disclosing further details.

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