According to the company, in accordance with the shareholders’ agreement signed in January 2001, this notice will take effect on January 30, 2012.
Areva and Siemens have said that they will work on the valuation of shares sold in accordance with a procedure set forth in that same agreement. This transaction ends all share capital ties. Once it has been completed, Areva NP will be a wholly owned subsidiary of French nuclear power engineering major Areva.
The transaction is subject to the approval of antitrust authorities. The purchase price for the shares to be transferred will be agreed upon by the contractual parties in accordance with the terms and conditions of the Shareholders Agreement. In 2001, Siemens combined its nuclear business activities with those of the French company Framatome and has since then held a minority share (34 percent) in the joint venture Areva NP (formerly Framatome ANP).
According to the put agreement, the majority shareholder Areva, which owns a 66 percent stake, will acquire the 34 percent of shares Siemens has within a period of three years. Siemens will fulfill its contractual obligations under the terms of the Shareholders Agreement for the Areva NP joint venture.
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. The company is working to develop and manufacture products, design and install systems and projects, and tailor a wide range of services for individual requirements.
