Wind power: AREVA exercises the option to sell its share in Adwen to Gamesa
September 15, 2016
Following a 3-month competitive bidding process aimed at obtaining and assessing offers from potential third-party investors, the Board of Directors of AREVA S.A. decided to authorize AREVA’s Executive Management to exercise the put option signed on June 17, 2016 and enable AREVA to sell its shares in Adwen to Gamesa.
This decision allows the AREVA Group to:
• maximize the value of its shares in Adwen;
• limit and, in the longer term, cap the amount of cash disbursements related to projects already in operation or currently in the installation phase;
• strengthen Adwen’s activities through a stable shareholder base. In particular, Gamesa is aware of the commitments made by Adwen as part of the tender process for the offshore wind farms for electricity generation in France. Those commitments will remain borne by Adwen.
This agreement marks a further milestone in the strategy to refocus AREVA on the nuclear fuel cycle.