Arab Today, arab today france seeking asian investors for arevaedf reactor unit
Last Updated : GMT 01:10:16
Arab Today, arab today
Arab Today, arab today

France seeking Asian investors for Areva-EDF reactor unit

Arab Today, arab today

Arab Today, arab today France seeking Asian investors for Areva-EDF reactor unit

Paris has sought to restructure Areva
Tokyo - AFP

France on Monday shed light on its plans to revamp troubled nuclear group Areva, including injecting 2.5 billion euros ($2.9 billion) in cash and selling a third of the reactor unit to an Asian investor.

"We are looking for a partner for a one third stake," a government source said on the margins of a visit by Prime Minister Manuel Valls and Economy Minister Emmanuel Macron to Japan.

Paris has sought to restructure the loss-making mainly state-owned Areva by splitting off its uranium mining and refining business from the nuclear reactor unit, which will be taken over by electricity group EDF, also mostly state-owned and which builds reactors.

In July EDF said it would purchase between 51 and 75 percent of nuclear reactor unit Areva NP for an amount valuing the entire affiliate at 2.7 billion euros, but details have since been slow emerge.

The government source said EDF would hold 51 percent of the reactor unit and Areva 15 percent.

Chinese and Japanese companies are contenders for the remaining one-third stake.

Areva has been casting around for investment, notably from China, and Valls said he was open to the idea of Japanese conglomerate Mitsubishi Heavy Industries taking a capital stake.

Valls told Japan's Asahi daily that "everything is possible" in a nod to discussions with Mitsubishi, an Areva partner in the Atmea pressurised water reactor.

With Areva's financing needs estimated at 7 billion euros through 2017, some 3.4 billion needs still to be found, most of which is likely to come from the French state pumping more cash into the company.

The government source said the amount would be between 2.5 to 3.0 billion euros.

Once a world-beating force in the global civil nuclear sector, Areva encountered significant financial problems following the 2011 Fukushima disaster in Japan, which left several countries including Germany looking to phase out nuclear energy.

The firm also hit severe construction difficulties with its first EPR reactor in Finland, leaving a nearly 4.0-billion-euro bill and lifted Areva's debt to some 6.0 billion euros mid-year.

That encouraged Paris to push for a quasi-merger with EDF to save what it could in the company. Some 6,000 jobs are expected to be cut as part of the restructuring.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today france seeking asian investors for arevaedf reactor unit Arab Today, arab today france seeking asian investors for arevaedf reactor unit

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:58 2017 Saturday ,25 February

US new home sales rise in January

GMT 05:46 2017 Saturday ,25 February

Record unemployment in Brazil

GMT 05:33 2017 Saturday ,25 February

Indian wind power tariffs fall

GMT 05:27 2017 Saturday ,25 February

German construction sector grows
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday