French nuclear group Areva ups investment in German wind sector

[bananas]

http://www.platts.com/Nuclear/News/8842511.xml

French nuclear group Areva ups investment in German wind sector

London (Platts)--22Jan2007

French nuclear group Areva has made an offer for the remaining 70% stake
of German wind turbine maker REpower systems it does not yet own, the French
company said Monday.

The price offered by Areva was Eur105/share ($136/share), a 17% premium
over the closing share price January 19, Areva said, to value the company at
Eur850 million. The French company has been a shareholder in REpower since
September 2005 and currently holds a 29.99% stake.

"The complementary nature of the combination will enable REpower to have
the necessary financial strength, engineering expertise and commercial reach
to accelerate its development, particularly in off-shore projects. REpower
already has a strong competitive advantage in this area by being the leader in
5 MW turbines for offshore applications," Areva said.

REpower specializes in high output turbine technology particularly
suitable for offshore turbines.

[jpak]

1. If you can't beat 'em, join 'em...

:evilgrin:

[Dead_Parrot]

2. I thought nuclear never made any money? nt