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China looking to take part in Areva restructuring, says China vice PM
November 14, 2016 / 12:13 PM / a year ago

China looking to take part in Areva restructuring, says China vice PM

PARIS (Reuters) - Chinese companies are looking to take part in the restructuring of French state-controlled nuclear group Areva AREVA.PA, Chinese Vice Premier Ma Kai told reporters on Monday.

A view shows the Areva Tower, the headquarters of the French nuclear reactor maker Areva, at La Defense business and financial district in Courbevoie near Paris, France, March 2, 2016. REUTERS/Jacky Naegelen/File Photo

Ma Kai made his comments during a visit to France, where he met French President Francois Hollande, economy minister Michel Sapin and industry minister Christophe Sirugue.

Sirugue added that France was looking to develop China National Nuclear Corporation’s entry into Areva - which is planning a 5 billion euro ($5.4 billion) capital increase to restore its finances - as a shareholder.

“We are looking to develop CNNC’s entry into Areva’s capital,” Sirugue told reporters.

Last year, Areva signed a memorandum of understanding for a possible partnership with China National Nuclear Corporation that could see the Chinese group take a minority stake in the French nuclear company.

($1 = 0.9275 euros)

Reporting by Leigh Thomas; Writing by Sudip Kar-Gupta; Editing by Brian Love

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