Areva to Sell Shares in Wind Power Joint Venture Adwen to Gamesa
September 15 2016 - 2:14AM
Dow Jones News
By William Horobin
PARIS--French nuclear energy group Areva SA (AREVA.FR) said
Thursday it exercized an option to sell to Gamesa Corporacion
Tecnologica SA (GAM.MC) its shares in the two companies' offshore
wind power joint venture, Adwen.
Areva's decision is part of the merger of the wind power
activities of Gamesa and Germany's Siemens AG (SIE.XE). The
renegotiation of the Adwen joint venture had delayed that
merger.
Areva said its decision will allow it to limit cash
disbursements related to ongoing wind power projects and focus on
nuclear power. But the French company didn't give financial details
of the sale of its shares in Adwen.
-Write to William Horobin at william.horobin@wsj.com
(END) Dow Jones Newswires
September 15, 2016 01:59 ET (05:59 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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