Areva, one of the French companies at the heart of the controversial Hinkley Point C nuclear project, has unveiled plans to break itself up into three parts in a bid to stem huge losses.
The 87% state-owned atomic engineering and uranium mining company is hoping to raise 9bn (£7bn) from the government and from selling off assets after running up losses of 2bn last year.
Areva, a 10% equity participant in the £18bn planned new Hinkley scheme, is also using the split to isolate financial commitments to a hugely delayed project at Olkiluoto in Finland.
The two [restructuring of the group and the Hinkley scheme] are not intrinsically linked, said a spokeswoman for Areva. The companys restructuring programme, which includes the sale of […
Read the full article at: https://www.theguardian.com/business/2016/jun/15/french-firm-involved-in-hinkley-point-c-unveils-restructure-plan