AREVA sells its minority stake in ERA
December 06, 2005
AREVA today sold its minority stake (7.76%) in the Australian company Energy Resources of Australia Ltd (ERA), which operates the Ranger uranium mine.
For the group, the stake was a strictly financial matter, acquired over the years through a succession of takeovers in the uranium business. It offered no access to the material, and was therefore not of strategic importance.
AREVA sold its 14.804 million shares at a price of $Aus 9.5 a share, for a gross worth of $Aus 140.6m. The revenue from this sale will be used to finance AREVA's future investments in the mining sector.
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