Mumbai, Dec. 30: Alstom Ltd is planning to sell its transmission and distribution (T&D) operations in the country and that of Alstom Projects India for a consideration of €14.3 million and €8.01 million, respectively, to Areva.

Alstom informed the stock exchanges today that an anti-trust clearance has been received from the European Commission and the American antitrust agencies on the acquisition by Areva of the global T&D operations of the Alstom group.

While this transaction is close to completion on a worldwide basis, this did not include the T&D operations in India.

However, together with the divestment agreement and subject to its becoming effective in other countries, Alstom has received a binding offer from Areva for the purchase of its T&D operations in India, it said.

The offer encompasses T&D operations within the company and the operations contained within Alstom Projects India, provided that Alstom bears all the costs of transfer of these operations to Areva and that the transfers are completed by December 31, 2004.

These offers for the T&D operations in India are expected to become valid only when the sale of Alstom's T&D operations in other countries is completed.

Earlier this year, Alstom Projects divested its industrial turbine business in India as a slump sale, on a going concern basis, to the Siemens group for a consideration of Rs 49.70 crore. This decision came after Alstom Projects’ parent, Alstom group, decided to divest the industrial turbine business worldwide to the Siemens group.

Alstom has been through a major reorganisation process worldwide. The power generating equipment was first merged with ABB to form ABB Alstom Power and ABB then exited this business.

Alstom earlier focussed on T&D and other industrial equipment. The T&D segment comprised switchgear, transformers, control systems and it was also involved in undertaking various T&D projects.