Details emerge on Areva-EDF deal

Areva has agreed to sell a majority stake of its nuclear reactor business to EDF.

The company also plans a capital increase next year to fund its remaining uranium mining and fuel treatment operations.

75 per cent of the Areva NP unit is to be sold to EDF for EUR2bn ($2.2bn) to help meet EUR7bn in financing needs by 2017, it said in a statement on Thursday.
Philippe Knoche
It will also dispose of another EUR400m of assets, cut spending and improve cash management.

EDF, Areva NP, and their subsidiaries “will be completely immunized against any risks related to the Olkiluoto 3 project,” EDF said in a statement on Thursday.

Areva Chief Executive Officer Philippe Knoche said, “The agreements found with EDF represent very significant progress.”

The way is now clear for a bailout of Areva by the French government which already owns 87 per cent of the company along with 84 per cent of EDF.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...