Areva to put T&D business up for sale

30 June 2009 – Following a meeting of Areva Group’s Supervisory Board today the actions the group will take to finance its long-term development plan were announced.

Based on a proposal from the Executive Board, the Supervisory Board has decided to open up its capital to strategic and industrial partners, to the value of 15 per cent, mainly by increasing its capital. This increase will be open to investment certificate holders, and the group is also launching an employee shareholders programme.

The Supervisory Board has also asked the Executive Board to put the group’s Transmission and Distribution (T&D) division up for sale. An open call for bids will be launched and the group will pay special attention to the price offered and also the industrial and labor projects.

Depending on the interest generated, the decision on whether to dispose of Areva T&D and the choice of a potential buyer will be taken before the end of the year.

Areva is also considering disposing of its stakes in Eramet and ST Microelectronics, although these stakes will remain in the public sector because of their strategic nature.

AREVA is also set to continue its cost reduction programme and to improve operational performance.