By Viktoria Dendrinou
BRUSSELS--The European Union approved Tuesday a restructuring plan for French nuclear group Areva SA, saying a planned EUR4.5 billion ($4.76 billion) capital injection was in line with the bloc's state-aid rules.
The European Commission, the EU's executive arm, said the planned state aid is subject to conditions, including a positive conclusion to tests being conducted by the French Nuclear Safety Agency, and approval of the divestment of Areva's reactor business under EU merger rules.
The restructuring plan "will allow the company to become viable without unduly distorting competition in theSingle Market," the commission said.
EU rules allow state support to ailing companies, but only if the firms have reasonable prospects of viability and if the program is designed to have a limited impact on competition.
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(END) Dow Jones Newswires
January 10, 2017 08:52 ET (13:52 GMT)
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