From correspondents in Maharashtra, India, 10:04 PM IST

Paris-based nuclear power major Areva Tuesday said it will hold talks with a consortium of French firms Alstom and Schneider for selling its transmission and distribution business for 2.29 billion euros ($3.45 billion).

The Indian operations of the nuclear power giant, Areva India T and amp;D, is part of its transmission and distribution business that is put up for sale.

'The supervisory board of Areva had received three binding offers from Alstom/Schneider, General Electric and Toshiba,' Areva India T and amp;D said in a regulatory statement.

'After review, the board asked the executive board to begin exclusive negotiations with the consortium, Alstom/Schneider. The consortium offered 2.29 billion euros in equity value,' it added.

(Staff Writer, © IANS)