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France's Assystem makes offer for 5 pct in New Areva NP company
May 11, 2017 / 5:27 AM / 7 months ago

France's Assystem makes offer for 5 pct in New Areva NP company

PARIS, May 11 (Reuters) - French engineering services group Assystem has made an offer for a 5 percent stake in the new Areva NP reactor unit being formed from the broader restructuring of Areva.

Assystem said it had made the offer to Areva and state-owned French utility EDF, adding it would invest around 125 million euros ($135.8 million) in the ‘New Areva NP’ company.

Areva is in the process of selling Areva NP - which designs, makes and services nuclear reactors - to EDF as part of a government-led restructuring and recapitalisation after its equity was wiped out by years of losses. The deal is set to be finalised in the second half of this year.

Assystem said it had also agreed to sell 60 percent of its research and development (R&D) outsourcing division Global Product Solutions (GPS) to private equity firm Ardian, with parts of the proceeds used to finance a share buyback.

$1 = 0.9205 euros Reporting by Sudip Kar-Gupta; Editing by Biju Dwarakanath

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