Areva wants to sell its Adwen-shares to Gamesa

Friday, 16 September, 2016 - 14:15

Areva’s Board of Directors has decided to authorize its Executive Management to sell the company’s shares in the offshore wind company Adwen to Gamesa. With this, Areva further advances its focus on nuclear power.

The authorization to exercise the put option signed on June 17, 2016 was given after a three months long competitive bidding process in which offers from potential third-party investors were obtained and assessed.

This decision allows the Areva Group to maximize the value of its shares in Adwen, as well as limit and cap the amount of cash disbursements related to projects already in operation or currently in the installation phase in the long-term. Additionally, it will strengthen Adwen’s activities through a stable shareholder base. In particular, Gamesa is aware of the commitments made by Adwen as part of the tender process for the offshore wind farms for electricity generation in France. Those commitments will remain borne by Adwen.

This agreement furthers Areva’s strategy to refocus on the nuclear fuel cycle.

Areva / Tanja Peschel

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