Areva reported that the first €2bn capital injection from the French State has been implemented and expects to receive another €2.5bn capital increase from the State by the end of this month. As a result, the French state now holds 92.22% of the capital and 91.69% of Areva's voting rights, directly or indirectly.
This capital increase is a complement to the sale of assets process in progress launched by the Group in order to ensure the successful completion of the Olkiluoto-3 (OL3) EPR project in Finland. In January 2017, The European Commission (EC) gave its approval to the French State for its participation in the capital increases of Areva and NewCo - combining all Areva's operations related to the fuel cycle - up to a maximum of €4.5bn out of a total amount of €5bn.
In November 2016, EDF agreed to take a stake of between 51% and 75% in Areva's reactor unit and the restructuring included a capital injection of €4.5 billion into Areva. The reactor operations to be sold have been then transferred to NEW NP, a 100% subsidiary of Areva NP, that will combine Areva's Group’s activities relating to design and equipments’ manufacturing of nuclear reactor and, fuel design and assemblies manufacturing and services to the nuclear installed base. The transaction is on a debt-free, cash-free basis, i.e. not including Olkiluoto-3 in Finland or contracts relating to components forged in Le Creusot plant.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.