Areva to Sell Shares in Wind Power Joint Venture Adwen to Gamesa

By William Horobin

PARIS--French nuclear energy group Areva SA (AREVA.FR) said Thursday it exercized an option to sell to Gamesa Corporacion Tecnologica SA (GAM.MC) its shares in the two companies' offshore wind power joint venture, Adwen.

Areva's decision is part of the merger of the wind power activities of Gamesa and Germany's Siemens AG (SIE.XE). The renegotiation of the Adwen joint venture had delayed that merger.

Areva said its decision will allow it to limit cash disbursements related to ongoing wind power projects and focus on nuclear power. But the French company didn't give financial details of the sale of its shares in Adwen.

-Write to William Horobin at william.horobin@wsj.com

(END) Dow Jones Newswires

September 15, 2016 01:59 ET (05:59 GMT)

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