Areva SA, Frances state-controlled nuclear energy company, announced its restructuring plans Wednesday, which will see it split into three smaller companies and raise about 8 billion euros (about $9 billion) in fresh capital. The company, which has made losses for the last five years, will also sell its non-core businesses to raise some of the cash.
The announcement was made by CEO Philippe Knoche during a conference call held to give details of the companys road map for the next five years. A new entity, temporarily named New Co, will be created to handle the business of nuclear fuel for power plants, which includes mining, conversion and enrichment operations, as well as the processes of recycling, logistics and dismantling.
By means of …
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