Binding agreements signed with strategic investors for the acquisition of an equity stake in NEW NP

Today EDF [1] confirmed the signature of binding agreements with the following companies for the acquisition of an equity stake in NEW NP capital:

• MITSUBISHI HEAVY INDUSTRIES [2] for a stake of 15% and potentially of up to 19.5%, and
• ASSYSTEM for a 5% stake.

The sale price for 100% of the equity value of NEW NP has been confirmed at 2.5 billion Euros excluding potential earn-out provisions and adjustments and with no transfer of financial debt at the closing date.

These agreements were signed further to:

• the signature on 15 November 2016 of an agreement between AREVA and EDF, setting out the terms of the sale of an interest of 51% to 75% of NEW NP capital, conferring exclusive control of this company, initially a 100% subsidiary of AREVA NP. NEW NP will combine AREVA’s Group’s activities relating to design and equipments’ manufacturing of nuclear reactors, fuel design and assemblies manufacturing, and services to the nuclear installed base;
• Discussions with strategic investors having confirmed their interest and submitted bids to acquire an equity stake in NEW NP alongside EDF.

Immunisation mechanisms [3], guarantees and closing conditions set out in the share purchase agreement signed with EDF on 16 November 2016 will apply to these minority investors.

EDF and these third-party investors will simultaneously acquire their respective equity stake in NEW NP, aiming for the various transactions to be completed by the end of the second half of 2017.

EDF remains open for other strategic partners to enter into NEW NP’s share capital.

Discussions are also initiated between EDF and AREVA on the conditions for the implementation of the European Commission decision requiring AREVA to fully exit NEW NP at the latest by the end of AREVA restructuring plan, planned in 2019.

Jean-Bernard Lévy, Chairman and Chief Executive Officer of the EDF Group: "The entry of new partners, both leaders in their activities, in the shareholding of NEW NP marks the achievement of a key milestone in the restructuring of the French nuclear industry. This demonstrates the attractiveness of our projects and expertise to the other players of the global nuclear industry. I am delighted with this renewed evidence of confidence in EDF and NEW NP ".