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Fri 30 Jul 2010 05:22 PM

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France open to Kuwait, Qatar Areva stake - minister

Energy group plans a $3.87bn share offering; eyes strategic overseas partners.

France open to Kuwait, Qatar Areva stake - minister
FRANCES AREVA: Areva has plans to raise about 10 billion euros by 2012 to fund its expansion and research and development into a new generation of nuclear power plants.(Getty Images - for illustrative purposes only)

France is open to Kuwait and Qatar investors or Japan's Mitsubishi Heavy Industries taking a stake in French state-owned energy group Areva, Economy Minister Christine Lagarde said on earlier this week.

Areva is planning a 3 billion-euro ($3.87bn) share offering and aims to sell the shares to strategic overseas partners.

"(Areva's stake sale) will be open to those partners who are ready to enter and who we have worked with for a long time," Lagarde told RTL radio, referring to Mitsubishi Heavy and investors from Kuwait and Qatar.

Areva has plans to raise about 10 billion euros by 2012 to fund its expansion and research and development into a new generation of nuclear power plants.

Qatar and Kuwait's sovereign funds have also expressed an interest. ($1=.7746 Euro) (Reuters)

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