April 28, 2010
TOKYO (Kyodo) -- Mitsubishi Heavy Industries Ltd. is in talks to invest in French nuclear group Areva SA to deepen their cooperation in the nuclear business, industry sources said Wednesday.
Areva, which is some 90 percent owned by the French government and government entities, has solicited investment from the Japanese firm and other business partners as well as sovereign wealth funds following the deterioration of its financial position as a result of large investments in the nuclear business, the sources said.
Mitsubishi Heavy plans to invest more than 40 billion yen to acquire an equity stake of over 2 percent in Areva, the sources said.
If the talks with the French government make headway, the Japanese firm will make a final decision on the investment by the end of May, they said.
Mitsubishi Heavy and Areva have cooperated in the development of medium-sized nuclear reactors and in nuclear fuel business operations.
Areva, which is some 90 percent owned by the French government and government entities, has solicited investment from the Japanese firm and other business partners as well as sovereign wealth funds following the deterioration of its financial position as a result of large investments in the nuclear business, the sources said.
Mitsubishi Heavy plans to invest more than 40 billion yen to acquire an equity stake of over 2 percent in Areva, the sources said.
If the talks with the French government make headway, the Japanese firm will make a final decision on the investment by the end of May, they said.
Mitsubishi Heavy and Areva have cooperated in the development of medium-sized nuclear reactors and in nuclear fuel business operations.
(Mainichi Japan) April 28, 2010
Source: http://mdn.mainichi.jp/mdnnews/business/news/20100428p2g00m0bu025000c.html
Source: http://mdn.mainichi.jp/mdnnews/business/news/20100428p2g00m0bu025000c.html
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