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EDF sells Areva New NP stakes to Mitsubishi Heavy and Assystem
July 10, 2017 / 6:56 AM / 5 months ago

EDF sells Areva New NP stakes to Mitsubishi Heavy and Assystem

PARIS, July 10 (Reuters) - French state-controlled power group EDF said on Monday it had agreed to sell stakes in the New NP reactor business formed from the restructuring of nuclear group Areva to Mitsubishi Heavy Industries and Assystem.

Areva has agreed to sell the Areva New NP business, which designs, builds and services nuclear reactors, to EDF as part of a government-led restructuring after years of losses.

EDF said Mitsubishi Heavy Industries would take a stake of 15 percent, which could later rise to 19.5 percent, while French company Assystem would buy 5 percent stake in the New NP group.

EDF said the acquisition confirmed New NP’s valuation at 2.5 billion euros ($2.9 billion) and cleared the way for other companies to acquire equity stakes in the company.

“The entry of new partners, both leaders in their activities, in the shareholding of New NP marks the achievement of a key milestone in the restructuring of the French nuclear industry,” EDF chief Jean-Bernard Levy said in a statement.

$1 = 0.8773 euros Reporting by Sudip Kar-Gupta; Editing by Laurence Frost

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