Tuesday, January 10, 2017

Green light subject to conditions to the restructuring plan of the Areva – Le Figaro

The european Commission has announced on Tuesday to have given the green light, with conditions, the restructuring plan of the French specialist of the nuclear power industry, Areva, including a government aid of € 4.5 billion.

The eu executive said in a press release have “concluded that the project of France to grant aid to Areva in the form of a capital injection of 4.5 billion euros is in line with the EU rules on State aid”, the matching, however, of conditions.

“The plan of restructuring of Areva will enable the company to become viable without unduly distorting competition in the single market”, said the european Commission.

But according to the press release, “the payment of the aid is subject to certain conditions, including the positive conclusion of the ongoing trials by the Agency French nuclear safety regarding the vessel of the nuclear reactor in Flamanville III and the authorization of the disposal of reactors from Areva under the EU rules on concentrations”.

For testing on the tank, Areva and EDF had said confident of a positive conclusion.

Areva had obtained in mid-December, the promise of foreign investors to bail out part of the future group refocused on the fuel cycle, but he was still waiting for the green light from Brussels on its draft capital increase for a total of 5 billion euros.

The French State currently owns nearly 87% of Areva.



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