The French ALSTOM group, in serious difficulties with a debt of EUR 5 bn, has sold off its most profitable T&D - TRANSMISSION ET DISTRIBUTION division (turnover EUR 400 million in 2002-2003 with workforce of 28,000), for EUR 950 million to the publicly owned nuclear company AREVA. The deal only affects part of this branch, the "power conversion" division specialised in naval propulsion and equipment for renewable energies.