Areva to Sell Shares in Adwen to Gamesa for EUR60 Million -- Update
15 September 2016 - 1:07PM
Dow Jones News
By William Horobin and Inti Landauro
PARIS--French nuclear energy group Areva SA (AREVA.FR) said
Thursday it exercized an option to sell to Gamesa Corporacion
Tecnologica SA (GAM.MC) its shares in the two companies' offshore
wind power joint venture, Adwen.
The French company will receive 60 million euros ($67 million)
for its stake in Adwen, Gamesa said in a separate statement. Areva
will receive within five years part of a EUR236 million loan made
to Adwen when the company was created, Gamesa said.
Areva's decision is part of the merger of the wind power
activities of Gamesa and Germany's Siemens AG (SIE.XE). The
renegotiation of the Adwen joint venture had delayed that
merger.
Areva said its decision will allow it to limit cash
disbursements related to ongoing wind power projects and focus on
nuclear power.
-Write to William Horobin at william.horobin@wsj.com and Inti
Landauro at inti.landauro@wsj.com
(END) Dow Jones Newswires
September 15, 2016 06:52 ET (10:52 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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