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France's Areva 'wants stake in Urenco'

Nuclear group Areva is looking into buying shares in Urenco, it has been reported.

05 January 2012

French nuclear group Areva may be speaking to merger and acquisition consultants about rumoured plans to buy a stake in the UK's Urenco.

Dutch newspaper Het Financieele Dagblad reported the company would like to buy a part of the uranium enrichment business, according to Reuters.

"It is serious," a source was quoted by the Netherlands-based news provider as saying.

"A neighbour's house only comes up for sale once," they added. "Areva is not eyeing Urenco's dividend, it's about synergy."

Shareholders in Urenco include utility companies Eon and RWE as well as the British and Dutch governments.

Het Financieele Dagblad said Credit Suisse is advising the Netherlands on what to do with its stake, while Reuters added the UK has been looking to sell since 2009.

The Dutch newspaper added that both RWE and Eon want to get rid of their shares as well.

Urenco was founded in 1971 as an English firm following the signing of the Treaty of Almelo by Germany, the UK and the Netherlands.

Posted by Edel Quinn

Source: Reuters, January 5th

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