Areva increases bid for REpower, owns over 30 per cent

15 March 2007 – French nuclear reactor maker Areva raised its offer for REpower to €140 a share on Thursday after seizing more than 30 per cent of the German wind-turbine maker.

“Areva announced today that it has agreed to acquire additional shares of REpower Systems AG for a purchase price of €140 per REpower share,” Areva said in a statement.

“As a consequence of this purchase, Areva will own 2 435 445 shares of REpower, representing slightly above 30 per cent of the company’s share capital. As a legal consequence of this purchase, the price offered by Areva in its public offer to all shareholders of REpower published on 5 February 2007 has increased to €140 per REpower share.”

The offer is in cash, it said. The move comes after REpower recommended an offer worth €126 a share from India’s Suzlon, which had in turn topped a previous offer from Areva worth €105.