Following its recent acquisition of Uramin for $7.75 per share, French state-owned nuclear energy group Areva has announced that its indirect wholly owned subsidiary CFMM Developpement has become the sole shareholder of the Canadian uranium mining company.
Areva said that it completed the transfer of the Uramin shares to CFMM Developpement following the completion of compulsory redemption proceedings in accordance with the laws of the British Virgin Islands.
In addition, Areva revealed that in connection with its acquisition of the Canadian firm, the shares of UraMin were delisted from the Toronto Stock Exchange on August 20, 2007.
Furthermore, as previously announced, UraMin has also requested the cancellation of its listing on the alternative investment market of the London Stock Exchange, which is expected to be effective on September 4, 2007.
Areva’s offer of $7.75 per UraMin share valued the company at more than $2.5 billion for 100% of its share capital on a fully diluted basis. Areva hopes that the acquisition will help it to secure its customers’ uranium supplies over the long term.