# EDF nearing deal to acquire GE's nuclear turbine unit at reduced price

EDF is renegotiating the purchase of General Electric's nuclear turbine business (Arabelle steam turbine) at a reduced price, with an enterprise value originally set at $200 million expected to be 10-20% lower. EDF also plans to invest EUR 800 million in the project.

- Type: Acquisition
- Announced: 2022-10-13
- Where: eastern France, France
- Value: $200.0M
- Jobs: 1,800
- Status: rumored
- Products: nuclear steam turbines (Arabelle)
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [EDF](https://endata.com/companies/771.md) (acquirer)
- [GE](https://endata.com/companies/1022.md) (partner)
- [General Electric](https://endata.com/companies/1262.md) (target)
- [GE Steam Power](https://endata.com/companies/5219.md) (target)
- [Arabelle](https://endata.com/companies/65836.md) (target)

## Sources

- [energywatch.com](https://energywatch.com/EnergyNews/Utilities/article14491226.ece), 2022-10-13: "EDF expects to close the deal soon as part of a transaction that will shave 10-20% off the enterprise value, originally set to USD 200m."
- [capital.bg](https://www.capital.bg/biznes/kompanii/2022/10/17/4402322_edf_shte_kupi_proizvoditelia_na_turbini_za_iadreni/), 2022-10-17: "Френският енергиен оператор EDF предоговори сделката за закупуване на компанията - производител на турбини за ядрени реактори, Arabelle от General Electric."
- [gevernova.com](https://www.gevernova.com/news/press-releases/ge-and-edf-sign-a-binding-agreement-related-to-edfs-acquisition-of-ge-steam-powers), 2022-11-04: "This acquisition will enable EDF Group to strengthen the technologies and skills around the conventional island which are essential for the maintenance of the existing nuclear fleet and future projects."
- [energyintel.com](https://www.energyintel.com/00000184-4353-d2ee-adde-f357a6450000), 2022-11-04: "This transaction will allow EDF to master the technologies and skills related to the conventional island of nuclear power plants, essential for the sustainability of the existing nuclear fleet and future projects."
- [france3-regions.franceinfo.fr](https://france3-regions.franceinfo.fr/bourgogne-franche-comte/territoire-de-belfort/belfort/rachat-des-activites-nucleaires-de-general-electric-par-edf-les-turbines-arabelle-de-belfort-de-nouveau-dans-le-giron-francais-2648828.html), 2022-11-05: "Cette transaction permettra à EDF de maîtriser les technologies et les compétences relatives à l'ilot conventionnel des centrales nucléaires, essentielles pour la pérennité du parc nucléaire existant et les futurs projets."
- [ge.com](https://www.ge.com/news/taxonomy/term/2391), 2022-12-23: "GE and EDF today signed the binding agreement related to EDF’s acquisition of GE Steam Power’s nuclear activities"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.