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AREVA and Suzlon conclude an agreement on REpower

Press release

FINANCE / RENEWABLE ENERGY

May 24, 2007

The offer period for REpower ends this Friday 25th of May 2007. In consideration of the late point in time for a potential increase of its offer making it very unlikely that AREVA can obtain the majority of shares, the share price level reached (€168 today) and the very substantial value created by its initial investment, which has been multiplied by four, AREVA has decided not to go any further.

The group has concluded a cooperation agreement with Suzlon which includes the following terms:

  • it maintains its stake in REpower and continues supporting REpower;

  • it becomes preferred supplier of Suzlon in the field of electricity transmission and distribution;

  • it benefits from an exit guarantee ensuring a value creation of over €350M.
AREVA maintains its strategic objective of focusing on the development of renewable energies.

Contact

  • AREVA Press Office:
    Julien Duperray / Katherine Berezowskyj / Aurélie Grange / Jérôme Rosso 
    Tel: +33 1 34 96 12 15 - Fax: +33 1 34 96 16 54
    email: press@areva.com

  • AREVA Investors Relations:
    Manuel Lachaux
    Anne-Sophie Jugean
    Tél : +33 1 34 96 11 53
    email: manuel.lachaux@areva.com