AREVA completes the disposal of its stake in La Mancha Resources Inc.
The offered price by Weather Investments II of 3.50 Canadian dollars per share, subsequent to the agreement reached with La Mancha, represents a premium of around 55.6% over the closing price of La Mancha's shares on the Toronto Stock Exchange on July 12, 2012, immediately prior to the announcement of the takeover bid, and a premium of 43.1% as compared to the 20-day volume weighted average price as at July 12, 2012 of the Company's common shares.
The disposal of AREVA's stake in La Mancha Resources Inc. is in line with the "Action 2016" strategic action plan launched by the group in December 2011. The proceeds of this sale, which should be received in the next few days, will enable AREVA to continue reducing its debt and help to finance its strategic and safety investments.
AREVA supplies solutions for power generation with less carbon. Its expertise and unwavering insistence on safety, security, transparency and ethics are setting the standard, and its responsible development is anchored in a process of continuous improvement.
Ranked first in the global nuclear power industry, AREVA's unique integrated offering to utilities covers every stage of the fuel cycle, nuclear reactor design and construction, and related services. The group is also expanding its operations to renewable energies - wind, solar, bioenergies, hydrogen and storage - to be one of the leaders in this sector worldwide.
With these two major offers, AREVA's 48,000 employees are helping to supply ever safer, cleaner and more economical energy to the greatest number of people.