Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised EDF in relation to the European Commission’s review of its acquisition of control of NEW NP, a 100% subsidiary of AREVA NP, pursuant to the European Commission Merger Regulation. The European Commission approved the transaction unconditionally earlier today.
 
The approval follows the agreement which EDF and AREVA NP entered into in November 2016, which set the terms of the acquisition by EDF of exclusive control over new entity called NEW NP. NEW NP will combine AREVA Group’s activities relating to the design, manufacturing and supply of nuclear reactors, of instrumentation and control systems, of nuclear fuel assemblies and to the provision of services to the installed base.
 
The closing of the transaction is expected to occur towards the end of 2017, subject to the fulfillment of the other conditions precedent to the agreement. Other aspects of the deal remain ongoing, with Freshfields advising on corporate, employment, tax and public law.
 
The Freshfields competition team was led by partner Jérôme Philippe, with support from François Gordon, Juliette Hochart and Petya Katsarska. The team worked closely with Philippe Alquié and Amandine Jacquemot from EDF’s legal department and with Compass Lexecon’s economists Fabien Roques, Xavier Boutin and Guillaume Duquesne. Freshfields’ work on the transaction overall is being led by corporate partners Hervé Pisani and Florent Mazeron.