AREVA and CNNC Considering in-Depth Partnership with Capitalistic and Industrial Components

Regulatory News:

Areva (Paris:AREVA) and its Chinese partner China National Nuclear Corporation (CNNC) signed today in Beijing, in the presence of the President of People's Republic of China, Mr. Xi Jinping, and the President of the French Republic, Mr. François Hollande, a memorandum of understanding for a possible partnership that includes capitalistic and industrial components.

The partnership planned between AREVA and CNNC involves a possible minority stake acquisition by CNNC in AREVA’s capital and a partnership covering all of the nuclear fuel cycle activities: uranium mining, front end, recycling, logistics, decommissioning and dismantling. These nuclear fuel cycle activities are not directly concerned by EDF’s acquisition of AREVA NP currently underway.

This proposed partnership falls within the framework fixed by the French-Chinese joint declaration on June 30, 2015.

"This project offers numerous opportunities for both AREVA and CNNC. Strengthening the cooperation with our Chinese partners is an integral factor for AREVA’s future success,” said Philippe Varin, Chairman of AREVA’s Board of Directors, during the signature ceremony in Beijing.

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The company is present throughout the entire nuclear cycle, from uranium mining to used fuel recycling, including nuclear reactor design and operating services.
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