Areva board to approve sale of Adwen JV to Gamesa – Siemens this week
The board of listed French energy group Areva [EPA:AREVA] is meeting on Wednesday and is expected to approve the sale of joint venture Adwen's wind power assets to partner Gamesa [GAM.MC] from Spain, Le Figaro reported.
The unsourced French-language report said that Gamesa, which will merge the business with the wind energy unit of Siemens [SIE.DE] in a EUR 10bn deal, will pay Areva about EUR 60m for the 50% it does not already own in Adwen, as the competing offer made by US conglomerate General Electric's [GE.N] for Adwen was not successful.
The report noted that the European Commission will have a say on the deal, noting that that an approval would not be a foregone conclusion as Siemens is already the worldwide leader in the wind energy turbines manufacturing sector.
Le Figaro