Siemens values Areva NP stake at 1.62 billion euros

15th March 2011, Comments 0 comments

German engineering group Siemens said Tuesday that the stake it owns in the nuclear reactor company Areva NP and is to sell to French group Areva has been estimated at 1.62 billion euros ($2.25 billion).

Siemens will record the gain in the second quarter of its 2010/2011 fiscal year that began on October 1, a statement said, and the full amount should be paid by January 2012 at the latest.

An Areva spokesman confirmed the amount to AFP.

The German group is exercising a put-option on its holding after an attempt to take a direct stake in Areva was rebuffed by the French government, which is the majority shareholder.

Siemens has since turned towards Russia, and is in talks on the creation of a joint venture with Rosatom, the state-owned nuclear energy agency.

© 2011 AFP

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