By Pietro Lombardi 
 

Electricite de France SA and Areva SA have reached an agreement to settle their dispute over the 2017 acquisition by EDF of French nuclear reactor business Framatome.

Under the agreement, Areva will pay the French energy company 563 million euros ($667.6 million) by the end of the year.

"This settlement and the enforcement of two arbitration awards rendered on June 29, 2021 and today, resolve all disputes between EDF and Areva relating to the Framatome acquisition contract entered into in 2017 and to their business relations prior to the acquisition," the companies said in a statement late Wednesday.

EDF acquired the majority of Framatome in 2017 and currently has a 75.5% stake, according to Framatome website.

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

(END) Dow Jones Newswires

July 01, 2021 01:56 ET (05:56 GMT)