Mitsubishi Heavy Industries (MHI) has agreed to acquire a 19.5% stake for an undisclosed sum in a new company that will be formed through the reorganization of Areva Group. In the framework of the reorganization of the AREVA Group, AREVA NP, a company that designs and manufactures equipment for nuclear power plants (NPPs), will take up the temporary name of New NP and will serve as an affiliate of Electricite de France (EDF). In November 2016, EDF had agreed to buy Areva’s nuclear reactors business, a transaction which had been approved by the European Commission recently. According to MHI, the stake acquisition will expand its ties with EDF. It is also expected to bolster the relationship between Japan and France in the nuclear power sector based on the close ties of cooperation of MHI with the Areva Group and French utility EDF.
Energy Business Review 31st July 2017 read more »
