Struggling French nuclear power giant AREVA announced the sale of its majority stake in AREVA TA, a subsidiary specializing in nuclear propulsion and research reactors that employs nearly 1,500 people.
AREVA TA was sold to a consortium of buyers made up of the French Government's Agency of State Holdings, the French Alternative Energies and Atomic Energy Commission and DCNS.
The parties had signed a sale agreement on December 15, 2016. As of today, the shareholders of AREVA TA are as follows: the French state, by way of the APE, is the majority shareholder with 50.32 percent of the capital of AREVA TA, while the CEA, DCNS and EDF hold 20.32 percent, 20.32 percent and 9.03 percent, respectively.
This transaction, completed Wednesday, is one of the four principal disposal operations conducted by AREVA. Canberra, ADWEN (offshore wind) and AREVA TA are sold; the sale of AREVA NP is to be carried out by the end of 2017.
AREVA TA Chief Executive Officer Carolle Foissaud said the sale signified, "A new page in the company's history."
"AREVA TA's human potential has been proven many times over, its expertise and know-how are unique in the world. I have full confidence in the management team to capitalize on and develop this wealth for the future development of the company," she said.