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Eramet

French FSI fund may buy Areva asset stakes -paper

13. Sep, 2009

Reuters reports, “France’s FSI strategic investment fund could buy stakes in assets that French nuclear reactor supplier Areva is selling, the fund’s head told Les Echos newspaper.

Asked about Areva’s power Transmission & Distribution (T&D) unit and its minority stakes in mining group Eramet and chipmaker STMicroelectronics, Gilles Michel said, ‘Regarding Eramet, the FSI is obviously one of the possible shareholders, but there are other players. It’s exactly the same answer for STMicroelectronics and for T&D.’

On Wednesday, the FSI raised its stake in Technip, a builder of refineries and pipelines, to 5 percent from 2.6 percent. Michel told Les Echos the FSI spent 90 million euros $130.5 million on the Technip investment.”

read more: Reuters

French state nuclear giant Areva invites new investors

03. Jul, 2009

AFP reports that, “French state-controlled nuclear giant Areva said Tuesday it was opening its capital to new investors and would sell a subsidiary to raise money for massive investments in new nuclear technology.

The company also said it was considering the sale of its stakes in French metal mining group Eramet and Geneva-based computer chip maker STMicroelectronics. The Financial Times reported earlier that the French government was preparing a capital increase and could sell a 15-percent stake to Asian and Middle Eastern investors for two billion euros (2.8 billion dollars).

The FT reported Mitsubishi Heavy Industries (MHI), Areva’s Japanese partner, was set to take a stake in the French company. MHI told AFP it had not received an offer to buy a stake but would study such a proposal. The French government is also in talks with sovereign wealth funds such as Mubadala of Abu Dhabi over their participation in a capital increase, which will be launched later this year, the FT said. France produces most of its electricity from nuclear power and French energy groups like EDF, Total and GDF Suez have previously been touted as possible investors in Areva. The report comes amid growing interest in nuclear power around the world, sparked by fears of climate change, worries about the reliability of supplies from the Middle East and Russia and record high oil prices in 2008.”

read more: AFP