Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Ebola in Nigeria: First death outside of Lagos

Read more

AFRICA NEWS

Niger : Top Oppostion figure to be questioned in baby trafficking scandal

Read more

AFRICA NEWS

Liberia: President dismisses top officials who ignored call back

Read more

MEDIAWATCH

The deleted tweets of Manuel Valls

Read more

DEBATE

How to Stop Ebola: WHO Says Cases Could Exceed 20,000 (part 2)

Read more

DEBATE

How to Stop Ebola: WHO Says Cases Could Exceed 20,000

Read more

WEB NEWS

'Ice Bucket Challenge' angers anti-abortion activists

Read more

#TECH 24

Tomorrow's Transport Today

Read more

FOCUS

Mothers and children leaving Honduras at all costs

Read more

  • West backs Ukrainian claims of Russian incursion

    Read more

  • Obama has 'no strategy yet' on potential Syria strikes

    Read more

  • Mapping Ukraine: Canada and Russia in ‘tweet for tat’ row

    Read more

  • French businesses ‘hoping for a new Thatcher’

    Read more

  • UN says 43 peacekeepers captured in Golan Heights

    Read more

  • The deleted tweets of Manuel Valls

    Read more

  • Peru seizes record 6.5 tonnes of Europe-bound cocaine

    Read more

  • Pakistan army to mediate between PM, protesters

    Read more

  • PSG face Barcelona, Ajax in tough Champions League draw

    Read more

  • In pictures: Billions of locusts invade Madagascan capital

    Read more

  • Brad Pitt and Angelina Jolie say ‘I do’ in France

    Read more

  • Erdogan sworn in as Turkey's president

    Read more

  • Assad cannot be partner in fight against terrorism, says Hollande

    Read more

  • New Ebola case in Nigeria brings death toll to 1,552

    Read more

  • Video: 'Neither Baghdad nor the US can defeat the Islamic State'

    Read more

  • Platini will not run against Blatter for FIFA presidency

    Read more

  • Air France pilots announce week-long strike in September

    Read more

  • New French economy minister takes swipe at 35-hour work week

    Read more

  • Air France suspends flights to Ebola-stricken Sierra Leone

    Read more

Siemens to sell stake in French nuclear giant

Latest update : 2009-01-27

German engineering firm Siemens confirmed Monday that it intended to sell off its 34% stake in Areva NP, the reactor subsidiary of French nuclear power giant Areva.

AFP - German engineering group Siemens said Monday it is to give up its stake in Areva NP, the reactor subsidiary of French nuclear power giant Areva.
   
Siemens currently holds a 34-percent stake in Areva NP, estimated to be worth 2.0 billion euros (2.6 billion dollars), which it will sell to Areva within three years, a Siemens statement said.
   
Siemens chief executive Peter Loscher indicated in the statement that the joint ownership was proving problematic, saying: "We want to play an active role in future developments, and that goes for the nuclear industry.
   
"That's why we have taken this initiative."
   
"For us, nuclear energy remains an essential component in the sphere of sustainable energies," he added.
   
A source said Friday that any decision to pull out would not be for "political" reasons.
   
A 2001 shareholders' agreement which governs Areva NP gives Siemens an option to sell its shares to Areva.
   
According to French business daily Les Echos, German Chancellor Angela Merkel called French President Nicolas Sarkozy to discuss the deal.
   
Sarkozy has not hidden his desire for Areva to buy the stake in the joint venture with the aim of creating a French national champion based on Areva, engineering group Alstom and construction group Bouygues.
   
Siemens started in the nuclear power industry in 1980 when it worked together with French group Framatome to develop a third generation nuclear reactor (EPR).
   
In 2001, Siemens and Areva grouped their nuclear activities from France, Germany and the United States into one company, Areva NP.
   
The German government has approved plans to mothball the last of its 17 nuclear reactors by about 2020 and polls show a majority of people in western Europe's most populous country oppose nuclear power.
   
 

Date created : 2009-01-27

COMMENT(S)