-- Belgium opened talks to acquire Engie's nuclear business, covering 7 reactors and all related assets, with terms targeted by Oct. 1, 2026, Engie said Thursday.
The Belgian State, Engie, and its unit Electrabel signed a Letter of Intent to begin exclusive negotiations for a potential transfer of all nuclear activities, the company said.
The planned deal includes seven reactors, staff, subsidiaries, and all linked assets and liabilities, including obligations tied to decommissioning and dismantling, Engie said.
Belgium aims to take direct control of nuclear assets to extend reactor lifespans and develop new capacity as part of its long-term energy strategy, the company said.
The government is positioning the move to strengthen supply security, support climate goals, and improve industrial resilience and economic stability, Engie said.
Belgium will carry out a full due diligence review, while both sides aim to finalize key terms by Oct. 1, 2026, through ongoing negotiations, the company said.
ENGIE and Electrabel expect the transaction to remain neutral for their financial position, as both sides structure terms to avoid a material balance sheet impact, Engie said.
The parties agreed to pause decommissioning and dismantling work during negotiations to preserve asset value and keep strategic options open, the company said.
ENGIE said it will support employees throughout the process by maintaining dialogue with representatives and offering assistance as discussions progress.
The agreement is non-binding, and the deal will proceed only after final contracts are signed and regulatory and third-party approvals are secured, Engie added.