16.06.2016 - Kuwaitis (KIA) Want Out of French State Owned Nuclear Group Areva
Reuters (13 June 2016) citing “La Lettre de l’Expansion” reported that the Kuwait Investment Authority (KIA) wants to sell its stake in French State owned nuclear group Areva. Reportedly, KIA said that they invested in Areva “based on incorrect company accounts“. According to Reuters, KIA paid 600 million euros ($676 million) for their 4.82% stake in 2010, but the value of Areva shares has declined by 90% due to years of losses by Areva. The French state (taxpayer) will bail-out Areva with 5 billion euros. The nuclear reactor part of Areva will be taken over by French State owned EDF in either late 2016 or early 2017...............................................Full Article: Source
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