GE Says In Second Round Of Areva's T&D Unit Sale Process

U.S.-based General Electric Co. (GE) Thursday said its bid to acquire a power transmission and distribution equipment unit from French nuclear group Areva SA (CEI.FR) is one of those selected for round two of the bidding process.

GE said it is bidding in a consortium with CVC Capital Partners.

If its bid for Areva's unit is successful, GE would add some of its own assets to the business and base the new entity in Paris, the company said.

-By Adam Mitchell, Dow Jones Newswires, [phone]; [e-mail]