Wednesday, July 29, 2015

Areva and EDF have reached a compromise to save the former flagship of the nuclear – L’Express

The discussions were very nearly stumble but the agreement last chance for recovery by EDF of Areva reactors branch was finally endorsed on Wednesday reported several sources familiar with the matter. The content of this compromise, sealed in the office of the Minister of Economy Emmanuel Macron, between public electrician and former flagship of the French nuclear power needs to be formalized Thursday morning. This offer, which is part of a wider agreement to pull the nuclear specialist financial difficulties, however, not enough to reassure the unions of Areva, who believe that “we remain in the dark” and that “nothing is done”.



No firm offer before autumn

According to several sources, EDF should of an offer to buy a majority stake (at least 75% ) Areva NP, which will value the Areva reactors branch at about 2.7 billion euros, but it still is only a offer “non-engaging”. Then open a period of “due diligence” of three to four months, during which the electrician, which operates 58 reactors of the French nuclear fleet, will examine the accounts of Areva NP to make a firm offer, not end of October or November. “The solution of the problem regrowth of four or five months,” laments Pierre-Emmanuel Joly, CGT representative of Areva, told AFP after a briefing with management. For if Areva and EDF disagree in November, “we leave for further negotiations”.

“We are still worried about the future Areva reduced” because of its debt, says his side Laisne Christophe, the UNSA-Spaen. While employees are negotiating the group’s restructuring plan, “we still do not know the number of employees of Areva NP who will spend at EDF,” he adds. According to a source close to the matter, progress has also been made on contracts between Areva and EDF in upstream activities (extraction and conversion of the ore), but on “limited tonnages.”

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