EDF Takeover of GE Units Could Raise National Security Concerns, UK Government Says
August 08 2023 - 3:04AM
Dow Jones News
By Giulia Petroni
The U.K. government says French utility EDF's proposed
acquisition of General Electric's nuclear steam-power business
could raise some national security concerns and has ordered the
companies to meet certain requirements.
"A risk to national security will arise because of the critical
national security and defense capabilities relating to naval
propulsion systems which are delivered through the GE Oil & Gas
Marine & Industrial UK Limited and GE Steam Power Limited UK
facility," the government said late on Monday.
EDF Energy is set to acquire the business through its subsidiary
Geast UK. The bid was cleared by the U.K.'s market regulator in
May.
The U.K. government ordered the parties to meet some security
needs, including the implementation of governance arrangements to
protect sensitive information and the placement of a
government-appointed observer on the board of Geast UK, among other
things.
EDF Energy and General Electric weren't immediately available
for comment when contacted by Dow Jones.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
August 08, 2023 02:49 ET (06:49 GMT)
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