Kazakhstan’s Kazatomprom Eyeing Areva Stakes

Kazakhstan: Areva And Kazatomprom Sign A Strategic Agreement

Nuclear companies from China, Kazakhstan and Japan are in discussions with Areva (AREVA.PA) about taking stakes in the French reactor builder, a French government source told Reuters on Tuesday.

The negotiations are set to end in two to three weeks, the source said.

French online news website BFM Business citing sources close to the group reported on Tuesday that China National Nuclear Corporation (CNNC), Mitsubishi Heavy Industries (7011.T) and Kazakhstan’s Kazatomprom were each set to buy an 11 percent stake in Areva.

The three will inject 400 million euros each, BFM reported. It said they would be able to chose board members and that the French government’s stake in Areva would fall to 67 percent.

Areva declined to comment on the BFM Business report.

CNNC, Mitsubishi and Kazatomprom were not available for immediate comment.

Areva is planning a 5 billion euro ($5.4 billion) capital increase to restore its finances.