Restructuring Areva Attracts Chinese Interest

Areva has attracted the interest of three Chinese groups in its technology and parts of its business as the loss-making, majority state-owned French nuclear reactor company restructures, Le Journal du Dimanche reported.

China General Nuclear Power Corp (CGN) and China National Nuclear Corp (CNNC) are open to all forms of cooperation, including joint ventures and taking stakes in Areva, the Sunday newspaper said.

Dongfang Electric Corp (DEC), meanwhile, is eyeing Areva plants that manufacture vats and generators, particularly those of its Creusot Forge and Saint-Marcel units, the paper reported, adding that a joint venture might be possible.

Areva is open to the possibility that CGN and CNNC could take stakes in the company, an idea supported by Chairman Philippe Varin, the paper said, citing several unidentified sources. The Chinese firms would not take more than 10 percent of its capital, the paper added.

A spokeswoman for Areva declined to comment.

Areva, which is 87 percent state-owned, last week made no comment on the progress of its restructuring and financing plan and reiterated that details would be communicated to financial markets by the time its first-half results are published.

During a visit by French Prime Minister Manuel Valls to China at the end of January, Areva signed a deal with CNNC to create a joint-venture in the field of nuclear transportation and logistics. (Reporting by Marc Angrand and James Regan; editing by Jane Baird)