French Strategic Investment Fund (FSI) to purchase AREVA's stake in STMicroelectronicsThursday, December 16th, 2010
AREVA receives a binding offer from the French Strategic Investment Fund (FSI) to purchase the group’s stake in STMicroelectronics
AREVA Group’s (Paris:CEI) Supervisory Board, meeting yesterday under the chairmanship of Jean-Cyril Spinetta, examined the French Strategic Investment Fund’s (FSI) binding offer to acquire AREVA’s indirect stake in STMicroelectronics (NYSE: STM) and authorized AREVA to grant exclusivity to the FSI on the sale of this stake.
FSI’s offer to purchase the group’s 10.9% stake in STMicroelectronics amounts to 695 millions euros, which corresponds to 7 euros per share.
The approval of this transaction is subject, among other authorizations, to an information and consultation procedure with the Employee Representative Bodies and to the approval of relevant competition authorities.