Following a 3-month competitive bidding process aimed at obtaining and assessing offers from potential third-party investors, the Board of Directors of AREVA S.A. decided to authorize AREVA’s Executive Management to exercise the option to sell its shares in Adwen to Gamesa.
Adwen is a 50:50 joint venture between AREVA and Gamesa dedicated to the design, manufacturing, installation, commissioning and services of offshore wind turbines.
When Siemens and Gamesa agreed their merger in June, they specified that Areva had three months to decide whether it wanted to buy out Gamesa's 50 percent Adwen stake.
The total amount for the acquisition reached €60 million (US$67.5 million).
This decision allows the AREVA Group to:
AREVA supplies products and services to support the operation of the global nuclear fleet. The company is present throughout the entire nuclear cycle, from uranium mining to used fuel recycling, including nuclear reactor design and operating services. This agreement marks a further milestone in the strategy to refocus AREVA on the nuclear fuel cycle.