State buys shares in Orano from Areva

State buys shares in Orano from Areva
State buys shares in Orano from Areva

As part of the restructuring of the nuclear industry decided in 2015, Areva had a 40% stake in Orano.

The State acquired approximately 16.59% of the capital of the nuclear group Orano SA for an amount of 994.1 million euros, from Areva SA and the Caisse des Dépôts, also public entities, according to decrees published. Tuesday in the Official Journal.

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This transfer of shares should enable Areva to meet its financial commitments related to the completion of the Olkiluoto EPR site, in Finland. The consortium led by Areva responsible for building this nuclear reactor must indeed pay an additional 600 million euros, corresponding to a reassessment of costs, to complete this project, according to an agreement reached in May with the future operator of the plant, the Finnish energy company TVO.

As part of the restructuring of the nuclear industry decided in 2015, Areva had a 40% stake in Orano, the monetization of which was to enable it to meet its commitments. Of this 40%, 10% was placed in trust with Natixis to secure a loan granted by Siemens Bank, and 10% in trust with CDC to secure a loan granted by a banking pool. However, the banking pool wished to exercise its right of priority transfer, we explained Tuesday to the State Participation Agency (APE).

€ 719 million

The State thus buys 31,698,333 Orano shares, or 12% of its capital, from Areva, for more than 719 million euros, indicates Tuesday’s JO. He also bought 12,121,953 shares, or 4.59% of Orano’s capital, from CDC for 275 million euros. The State Participation Agency (APE) told AFP that these two operations will be carried out on July 12 and 13. Until then, Orano was owned by the State at 54%, by Areva for 16%, Natixis 10%, CDC 10%, the Japanese MHI and JNFL 5% each. The state now owns 70.59%, Areva 9.4% and the rest is unchanged. The CEA is also keeping an action.

Source

State buys shares Orano Areva

 
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