Siemens release: AREVA asserts its rights

Press release

STRATEGY / FINANCE

March 04, 2009

Siemens has announced the signature of an agreement with Rosatom to create a nuclear joint venture.
 
AREVA points out that Siemens with its 34% share in AREVA NP has a number of compulsory obligations under the shareholders' agreement dated January 30, 2001, which in particular contains a non-competition clause.
 
AREVA has informed Siemens that by announcing this joint venture it is in breach of contract, with all the ensuing consequences by virtue of the shareholders' agreement.