Jul. 30, 2015, 7:59 AM
- Électricité de France (OTC:ECIFF) agrees to acquire at least a 51% stake in the nuclear reactor-making unit of Areva (OTCPK:ARVCF) as part of a broader plan to rescue the troubled nuclear supplier.
- The transaction values the whole unit at €2.7B ($3B); Areva will keep a maximum of 25%, and both companies will seek potential partners to invest in the rest of the unit, EDF CEO Jean-Bernard Lévy says.
- The deal is important for France, which generates 75% of its electricity from nuclear plants and needs to keep Areva alive to service its existing reactor fleet.
Jul. 14, 2013, 2:07 AM
Rio Tinto (RIO) has agreed to sell two money-losing French aluminum facilities to German group Trimet and Electricite de France (ECIFF.PK), which are acquiring 65% and 35% respectively. The sale is part of Rio's strategy of divesting non-core and/or unprofitable assets. The deal is a boost to France's attempts to keep major facilities open and save jobs, with the new owners intending to invest €200M to modernize the installations.| Jul. 14, 2013, 2:07 AM
Dec. 27, 2011, 5:01 AM