Siemens Sells $2.34B Areva JV Stake

Siemens has sold its 34% stake in its nuclear-power joint venture with French group, Areva.

Siemens has sold its 34% stake in its nuclear-power joint venture with French group, Areva, Bloomberg reports. Paris-based Areva paid $2.34 billion for the stake to the German engineering company. The Munich-based company is exercising a put option on its holding after the French government rebuffed its attempt to take a direct stake in Areva, adds AFP. Siemens is also in discussions with Russian state-owned nuclear energy agency, Rosatom, to establish a joint venture.

Click here for the story from Bloomberg.

Click here for additional coverage from AFP.