Areva, the French nuclear reactor group, has said that it would sell its T&D India business with proposed sale of its power transmission and distribution division. However, its Indian arm - Areva T&D India, 72-percent owned by T&D, will continue with its planned market strategies. Areva Chief Executive Anne Lauvergeon said that the entire sale process is likely to complete by the end of this financial year.

The company, on Tuesday, gave final touch to sell T&D following approval by its supervisory board. The move is aimed to fund the financial needs of state-controlled group. Meanwhile, group's spokeswoman said, "It is up to the new owner of T&D to decide whether to keep or sell Areva T&D India, but in any case Areva T&D India will be sold under the T&D package."

The company worth 4 billion euros, has already earning interest from Alstom, a France based heavy engineering group and German based Siemens group. Areva spokeswoman said, "If T&D was to be sold.... it would be a simple transfer of T&D's shares in Areva T&D India to the new buyer, and this does not imply any change in the company's market listing."

Karim Vissandjee, the Chief Financial Officer, Areva T&D (global), in a submission before Bombay Stock Exchange, said, that the company is not going to sell its Indian arm independently. Its share would be transferred directly to the new shareholder.