Areva : Approval granted by the European Commission for AREVA capital increases, with two preconditions

January 10, 2017

The European Commission has just announced that it is giving its approval to the French State for its participation in the capital increases of AREVA SA and NewCo, up to a maximum of 4.5 billion euros out of a total amount of 5 billion euros. On December 15, 2016, AREVA received offers from strategic investors, with a view to subscribing to the capital increase of NewCo, for a firm investment of 500 million euros.

This authorization is subject to the lifting of two preconditions. These preconditions are attached, for the first part, to the European Commission's approval of the merger between EDF and New NP and, for the second part, to the positive conclusion of the tests by the French nuclear safety authority concerning the nuclear reactor vessel of the Flamanville 3 EPR reactor.

In the framework of this authorization, AREVA will convene its Board of Directors on the afternoon of January 11 to determine the terms of the capital increase of AREVA SA, subject to the approval of the General Meeting of shareholders on February 3.

In order to avoid speculation before the decisions of the Board of Directors, the Group has asked Euronext to suspend the listing of its financial instruments until the publication of a new press release.

[1] NewCo combines all AREVA operations related to the fuel cycle. NewCo was formed by contributions from AREVA SA, in particular its fuel cycle operations and its bond debt, within the framework of the Contribution Agreement approved by the General Meeting of AREVA SA shareholders on November 3, 2016.

[2] New NP combines AREVA NP's operations, excluding the OL3 contract and the resources necessary for its completion, as well as, possibly, certain Component contracts.