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Areva SA (ARVCY.PK)

ARVCY.PK on OTC Markets Group

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Latest Key Developments (Source: Significant Developments)

New French ecology minister Hulot says will protect predecessor Royal's legacy
Wednesday, 17 May 2017 12:35pm EDT 

May 17 (Reuters) - Electricite De France Sa :New french ecology minister hulot says will protect predecessor royal's legacy.  Full Article

Assystem makes offer for 5 pct in New Areva NP; sells its Global Product Solutions division to Ardian
Thursday, 11 May 2017 01:03am EDT 

May 11 (Reuters) - ASSYSTEM SA ::ASSYSTEM MAKES TWO STRATEGIC DECISIONS TO ALLOW ITS TWO MAJOR BUSINESS LINES TO ACCELERATE THEIR GROWTH.GLOBAL PRODUCT SOLUTIONS: ASSYSTEM JOINS FORCES WITH ARDIAN TO DEVELOP ITS ACTIVITY OF ENGINEERING PRODUCTS AND SERVICES POST-DEVELOPMENT.CONCLUDED AN AGREEMENT WITH ARDIAN WITH A VIEW TO SELL TO ARDIAN 60 PCT OF ITS RESEARCH AND DEVELOPMENT OUTSOURCING DIVISION GLOBAL PRODUCT SOLUTIONS (GPS).THE VALUE DETERMINED FOR 100% OF GPS IS OF EUR 550 MILLION ($597.6 MILLION).TAKING INTO ACCOUNT THE BANK FINANCING TO BE PUT IN PLACE BY ACQUISITION VEHICLE, ASSYSTEM WILL INVEST ITS OWN FUNDS IN GPS FOR APPROXIMATELY EUR 125 MILLION, REPRESENTING ITS 40 PCT STAKE.GPS: TAX AND OTHER COSTS INCURRED BY ASSYSTEM REPRESENT APPROXIMATELY EUR 25 MILLION, THEREFORE THE NET PROCEEDS TO IT WILL AMOUNT TO APPROXIMATELY EUR 400 MILLION.PORTION OF PROCEEDS OF SALE OF 60 PCT OF GPS WILL BE USED BY ASSYSTEM TO FINANCE REPURCHASE OF PART OF ITS SHARES PURSUANT TO AN OFFER TO BE LAUNCHED WITHIN 3 MONTHS OF CLOSING.SUCH OFFER WILL BE MADE FOR AN AMOUNT OF AT LEAST EUR 200 MILLION AND ON A MINIMUM OF 25 PCT OF ASSYSTEM SHARES (NOT INCLUDING TREASURY SHARES).ASSYSTEM’S BOARD OF DIRECTORS AGREED TO THESE TERMS AND TO STRUCTURE SHARE REPURCHASE SO HDL DEVELOPMENT (60.7 PCT STAKE IN ASSYSTEM) MAINTAINS SUCH STAKE AFTER COMPLETION OF OFFER.  Full Article

Assystem says makes offer for up to 5% in New Areva
Thursday, 11 May 2017 01:03am EDT 

May 11 (Reuters) - ASSYSTEM :ASSYSTEM SAYS MAKES OFFER FOR UP TO 5 PERCENT IN NEW AREVA NP.SAYS COULD INVEST AROUND 125 MILLION EUROS IN NEW AREVA NP.SAYS PLANNING TO SELL 60 PERCENT STAKE IN GPS RESEARCH AND DEVELOPMENT DIVISION TO ARDIAN.  Full Article

Areva and Kazatomprom strengthen Kazakhstan uranium mining partnership
Monday, 10 Apr 2017 03:03am EDT 

Areva Sa : On April 10, 2017, AREVA and KAZATOMPROM signed a major agreement to strengthen their long-standing cooperation in the uranium mining sector in Kazakhstan . Agreement, which meets interests of Kazakhstan and France, opens new opportunities for further development and enhancement of effective operations of their joint-venture KATCO (AREVA (51%) and KAZATOMPROM (49%)), Areva says in statement . Areva is in the process of selling Areva NP - which designs, makes and services nuclear reactors - to EDF as part of a government-led restructuring and recapitalisation after its equity was wiped out by years of losses. The deal is set to be finalised in the second half of this year Further company coverage: [AREVA.PA] ((sudip.kargupta@thomsonreuters.com;)).  Full Article

EDF says board approves plan to close Fessenheim when Flamanville 3 commissioned
Thursday, 6 Apr 2017 01:26pm EDT 

Electricite De France Sa :Edf says its board approves plan to close Fessenheim nuclear plant when Flamanville 3 is commissioned.  Full Article

Areva says has sold majority stake in Areva TA division
Thursday, 30 Mar 2017 02:51am EDT 

Areva : AREVA S.A. says that yesterday it had sold its majority stake in AREVA TA, its subsidiary specializing in nuclear propulsion and research reactors and employing nearly 1,500 people . Sold unit to consortium of buyers made up of the French Government's Agency of State Holdings (Agence des Participations de l’Etat – APE), the French Alternative Energies and Atomic Energy Commission (Commissariat à l'énergie atomique et aux énergies alternatives – CEA) and DCNS . "The finalization of the sale of AREVA TA is further evidence of our commitment to carry forward AREVA's transformation and to refocus the group on the nuclear cycle business," says Areva CEO Philippe Knoche in a statement Further company coverage: [AREVA.PA] ((sudip.kargupta@thomsonreuters.com;)).  Full Article

Japan Nuclear Fuel and Mitsubishi Heavy Industries' deal on Areva NewWCo takes effect
Tuesday, 21 Mar 2017 03:48am EDT 

Areva : Company says agreements with JNFL and MHI take effect today . Areva said last month that Japan Nuclear Fuel Limited and Mitsubishi Heavy Industries (MHI) <7011.T> had agreed to buy a combined 10 percent stake in nuclear fuel group NewCo for 500 million euros ($538 million). . The state-owned company also said that the capital of NewCo - which is being split off from Areva in a government-led rescue - remained open to other strategic investors for investment within the same framework as the agreements currently being finalized. Further company coverage: [AREVA.PA] ((sudip.kargupta@thomsonreuters.com;)).  Full Article

China National Nuclear Corp will not take part in Areva capital increase -source
Tuesday, 31 Jan 2017 02:58am EST 

AREVA : Source close to matter says China National Nuclear Corp will not take part in Areva capital increase and restructuring, confirming earlier report on BFM Business Further company coverage: [AREVA.PA] ((sudip.kargupta@thomsonreuters.com;)).  Full Article

France notes with satisfaction EU approval of Areva restructuring
Tuesday, 10 Jan 2017 09:56am EST 

Areva : French President's office says France notes with satisfaction EU approval of Areva restructuring . French President's office: EU approval of Areva restructuring marks major step forward in terms of renovation of French nuclear sector . Earlier on Tuesday, European Union antitrust regulators approved French plans to grant a capital injection of 4.5 billion euros ($4.75 billion) to nuclear group Areva and said Areva's restructuring plan would not unduly distort competition. [nFWN1F00LE] Further company coverage: [AREVA.PA] ((sudip.kargupta@thomsonreuters.com;)).  Full Article

Areva to meet on Jan. 11 to determine capital increase terms
Tuesday, 10 Jan 2017 09:47am EST 

Areva : Areva will convene its Board of Directors on the afternoon of January 11 to determine the terms of the capital increase of Areva SA, subject to the approval of the General Meeting of shareholders on February 3. . Areva has asked Euronext to suspend the listing of its financial instruments until the publication of a new press release .Earlier on Tuesday, European Union antitrust regulators approved French plans to grant a capital injection of 4.5 billion euros ($4.75 billion) to nuclear group Areva and said Areva's restructuring plan would not unduly distort competition. [nL5N1F03Y4].  Full Article

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Exclusive: EDF set to win EU approval for Areva nuclear reactor deal - source

BRUSSELS French utility EDF is set to gain unconditional approval from the EU competition authorities for its plan to acquire a controlling stake in ailing nuclear power engineering group Areva's reactor business, a person familiar with the matter said on Friday.