Areva passes on Urenco bid

Areva passes on Urenco bid Pierre Aubouin Fukushima Bloomberg

The French firm Areva, the biggest supplier of nuclear fuel and services in the world, has announced it will not make a bid to purchase its competitor Urenco, Bloomberg reports.

“We definitively monitor closely the situation,” Areva CFO Pierre Aubouin told Bloomberg. “But we wouldn’t be doing anything that would hurt our balance sheet.”

Like much of the nuclear industry, Areva has seen challenges in recent years due to rising costs and public apprehension about nuclear power following Fukushima. Aubouin said the company’s strategy moving forward in the near term doesn’t include plans for “massive acquisitions,” though it may involved purchasing “selected” technologies, Bloomberg reports.

Urenco’s owners, including two German utilities and the governments of the UK and the Netherlands, have said they’d like to sell the firm.

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