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EWEC2009
Areva and Suzlon conclude an agreement on REpower Print E-mail
Thursday, 24 May 2007

The offer period for REpower ended Friday 25th of May 2007.

In consideration of the late point in time for a potential increase of its offer making it very unlikely that AREVA can obtain the majority of shares, the share price level reached (€168 today) and the very substantial value created by its initial investment, which has been multiplied by four, AREVA has decided not to go any further. The group has concluded a cooperation agreement with Suzlon which includes the following terms:
  • It maintains its stake in REpower and continues supporting REpower;
  • it becomes preferred supplier of Suzlon in the field of electricity transmission and distribution;
  • it benefits from an exit guarantee ensuring a value creation of over € 350 million.

AREVA maintains its strategic objective of focusing on the development of renewable energies

 
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