AREVA: ECA Group signs unilateral undertaking to purchase ELTA
August 05, 2016
AREVA S.A., AREVA TA and ECA Group, a subsidiary of Groupe Gorgé, have entered into exclusive negotiations following the signature, on August 4, 2016, of a unilateral undertaking to purchase the company ELTA, a subsidiary of AREVA TA (66%) and AREVA S.A. (34%).
This decision follows on from the analysis of bids received and a series of discussions with the various bidders for the acquisition of the company. The dossier submitted by ECA Group was considered to represent the best industrial and social project offering the best guarantees for the development of the company and its employees.
The skills of the 92 ELTA employees, widely recognized in the aerospace industry, are assets the ECA Group wishes to develop in synergy with its own activities.
The next steps in the process will be to consult the staff representative bodies of ELTA and AREVA TA, and to negotiate the terms of the sale agreement. The aim is to finalize the sale before the end of 2016.
AREVA TA, an 83.6% owned subsidiary of AREVA S.A., is itself the subject of a sale process which was initiated in late 2015, with the aim of finalizing the operation by the end of 2016 or the beginning of 2017.