what is the UraMin deal?
In the early 2000s, Areva wants to diversify its supply of uranium. From autumn 2006, President Anne Lauvergeon wants to invest in Canadian society UraMin, established the previous year. But the acquisition early in 2007 to € 1.8 billion, proves to be a money pit for the nuclear giant.
For this high price, Areva bought a company that aspired to exploit uranium deposits in three African countries: Namibia, South Africa and Central Africa. But the exploitation of these deposits has proved much more difficult than expected
Read. The acquisition of UraMin, an industrial and financial disaster for Areva
So the Central African Republic, then headed by François Bozizé, refused such access to the mine operations area. And iI is now proven that all precautions have been taken to ensure that the deposits, including Namibia, contained well the promised uranium. Heard, geologists and Areva executives reported their doubts investigators: “We knew the problems we would find” , said one of them, according to Agence France- Presse (AFP).
the judges of the pole so now investigating whether this disastrous takeover does not hide the fraud or corruption facts. Two judicial inquiries are underway: one relates directly to acquisition of the company, the other on the provisions recognized by Areva, magistrates seeking to establish whether they have been deliberately taken too late to delay the discovery of collapse in the value of UraMin. It is in the context of the latter procedure that is heard Anne Lauvergeon May 13
- The Court of Auditors denounced “a serious matter”
This is the Court of Auditors that everything began. In a 2014 report, it denounced as “gray areas” and “a serious matter” . The judges particularly critical of the cost of acquisition of UraMin, “a price about five times” that requested a year earlier. They also castigated the “early investment” from the knowledge of the deposits and placing “Late provisions revealing the seriousness of problems” .
Anne Lauvergeon, Areva who led from 2001 to 2011, is in the viewfinder of the Court of Auditors. The conclusions of the report, the judges felt that “responsibilities” Anne Lauvergeon “are indisputable” , referring to “concealment of facts (…) likely with regard to the supervisory board and guardianship “. The magistrates of the Rue Cambon bear these facts to the attention of the national financial prosecutor who decided to open a preliminary investigation, then grabbed the investigating judges.
- What he criticized Anne Lauvergeon?
former emblematic president of Areva, M me Lauvergeon, has already been heard in December 2015 by the financial police in the investigation. “Atomic Anne” was then placed in free suspect status.
It is suspected of presenting annual accounts “inaccurate” and “infidel” , dissemination of false or misleading information, abuse of power, forgery and forgery. He is accused in particular of having done everything to conceal the real wealth of the African mines redeemed UraMin, delaying and limiting as much as possible impairment of assets ( impairments ) to keep a chance be renewed for a third term as head of Areva in June 2011
Read. Areva, the bankruptcy of a nuclear ambition
many internal emails, including Le Monde had seen, prove that business unit (BU) mines, leads and develops mining group, had alerted M me Lauvergeon of the situation in 2008, particularly on deposits in South Africa and Namibia.
in May 2010, the financial manager of the BU mines already proposed an impairment 1.4 billion to $ 1.6 billion UraMin. And 1.82 billion at the end of 2010. Without success with the financial management of the group, let alone of M me Lauvergeon.
Every effort was made to do disregard the findings of the new surveys conducted by geologists house, which concluded that uranium resources were much lower and difficult to use than expected by the tests conducted by the expert company commissioned by the owner of UraMin. Thus, after the departure of its CEO, Areva had to fivefold the value of UraMin.
- Who are the other protagonists of the case?
The husband of Anne Lauvergeon, Olivier Fric, is also involved in this case UraMin. Advise his wife in the field of energy, he was indicted in late March for insider trading. Mr. Fric is covered by a memorandum of Tracfin, the anti-money laundering unit of the Ministry of Finance, who believes he could take advantage of “information which did not benefit other players in the stock market” when it bought the mining company Areva.
Olivier Fric had with his partner realized a capital gain of approximately EUR 300 000 by buying thousands of UraMin shares a few days before announcement of the public offer of Areva, and reselling them a month later
Read. UraMin-Areva investigating insider trading
when contacted by Le Monde at the time of this announcement, counsel for Mr. Fric, M th Stasi estimates while this indictment “rests solely on corresponding dates and the fact that Mr. Fric is the husband of Anne Lauvergeon” . He also assured that “at no time did his client received privileged information, and furthermore, it is his partner Franck Hanse, training trader, who decided alone to this operation” . A few days after the indictment of Mr. Fric, his partner Mr. Hanse has also for insider trading.
The two businessmen were the beneficial owners of the Swiss company Amlon Limited, which purchased the securities UraMin. However, they did not appear as actual managers of the structure.
On the side of Anne Lauvergeon, in an interview with Paris at the end of March, she explained that “confidentiality rules were very strict at Areva. Wedlock does not provide that the secrets we share that does not belong to you “
Read also:. Areva Anne Lauvergeon’s husband put an offense for review initiated
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