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EDF to buy up to 75% stake in Areva's nuclear reactor unit

Nov. 16, 2016 8:08 AM ETElectricité de France S.A. (ECIFF) StockARVCF, ECIFFBy: Carl Surran, SA News Editor
  • Eléctricité de France (OTCPK:ECIFF) agrees to buy Areva's (OTCPK:ARVCF) nuclear reactor unit as part of a €8B package reached earlier this year to rescue Areva after five consecutive years of losses.
  • EDF will buy as much as 75% in the unit in a deal that values it at €2.5B ($2.68B), and it plans to sell a 24% stake to other investors in the future.
  • The sale depends on the results of investigations carried out by the French regulator on the construction of a new reactor in Flamanville and on Areva's steel mills.

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