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Siemens values Areva NP stake at 1.62 bn euros

Siemens values Areva NP stake at 1.62 bn euros
AFP
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First Published: Tue, Mar 15 2011. 04 21 PM IST
Updated: Tue, Mar 15 2011. 04 21 PM IST
Berlin: German engineering group Siemens said on 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 ($2.25 billion).
A statement by Siemens said 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.
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First Published: Tue, Mar 15 2011. 04 21 PM IST