France Aims to Block Sale of Nuclear Reactor Components to the U.S.

France is exploring options to prevent the local supplier of equipment for nuclear reactors, Velan SAS, from falling into American hands, Bloomberg reports citing its sources.

It has been reported that Flowserve intended to acquire the French subsidiary of Velan Inc, based in Canada, in a deal valued at approximately $247 million. Velan's French division supplies parts to one of the world's largest operators of nuclear power plants, Électricité de France. The deal was set to close by the end of the second quarter but has been postponed.

“Paris may... either block the purchase or impose restrictions,” the sources indicate, noting that a decision is expected soon.

The agency highlights that several French lawmakers have expressed concerns about the potential takeover by the American company Flowserve and the impact of this transaction on business in France.