AREVA gives birth to New AREVA

In the context of its corporate restructuring, AREVA decided to refocus its strategy for the nuclear fuel cycle, under New AREVA, and to create a nuclear excellence hub, New NP, intended to be transferred to EDF.

New AREVA combines all AREVA nuclear fuel cycle operations (Mines, Upstream and Downstream activities), under the legal name of New AREVA Holding. The process of capital increase was initiated in July 2017 to enable New AREVA to meet its financial obligations and to develop, before being in a position in the medium term to refinance on the markets. In this context, the French State subscribed to a first reserved capital increase of €2.5 billion, while the two strategic co-investors, Japan Nuclear Fuel Ltd. (JNFL) and Mitsubishi Heavy Industries (MHI), set aside €500 million in a trust corresponding to the €250 million investment made by each party. JNFL and MHI will subscribe to a second reserved capital increase by releasing funds invested in the trust, from the sale of majority control of New NP to EDF.

New NP will, at the completion of the sale process to EDF, combine the Industrial activities related to the design and the supply of nuclear reactors and equipment, fuel assemblies and services to the installed base of AREVA NP. New NP is intended to be transferred to EDF at the end of 2017. The French electricity company expects a target stake of at least 51% of New NP, ensuring exclusive control.

AREVA S.A., subsequent to the loss of control of New AREVA in July 2017 and the completion of the sale process of New NP to EDF at the end of 2017, will encompass the missions under the scope of AREVA S.A. described hereafter.