EDF may get stake in nuclear group Areva: president's office

27th July 2010, Comments 0 comments

French energy giant EDF may take a stake in nuclear power group Areva, which will seek a capital increase of as much as 15 percent by the end of the year, the French president's office said Tuesday.

"A strategic partnership between EDF and Areva covering all areas of shared activity and interest will be put in place," a statement said.

The accord will ensure a secure and competitive supply of nuclear fuel and the two companies will work together on the export of nuclear power plants, it said, adding that they will remain free to cooperate with other partners.

Areva will develop its industrial capacity through a large investment plan which will be financed by the company raising fresh funds equal to up to 15 percent of its capital by the end of this year.

Talks with investors, both industrial and financial, have already begun, it said, adding that under the cooperation accord being drawn up, the possibility of EDF taking a stake in Areva would be examined.

© 2010 AFP

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