Areva has offered 105 euros a share for 70 % of the turbine supplier stocks, which is some 17% higher than last week's Repower's close, according to Bloomberg. The nuclear developer, which already owns some shares in Repower, expects to sell turbines totalling 450 million euros in the future, according to Ms Anne Lauvergeon, Areva's CEO. The firm plans to use its network of utility customers to drive sales of Repower's wind turbines, which has operations all over Europe and is planning to expand in China, India and North America. The company is one of Europe's largest suppliers of wind turbines, and competes in the market with Vestas, Enercon and Gamesa, and posted in the first nine months of 2006 a profit of 1 million euros, after an increase of sales of 50% from the year before.Repower would gain the potential to develop larger projects, according to Ms. Lauvergeon.
Areva is at the moment in contact with Martifer Construcoes Metalomecanicas, a Portuguese company subsidiary of Mota-Engil SGPS SA, negotiating the sale of 25% Repower's shares. of Portugal over that company's shareholding in Repower. We will know the outcome in the coming weeks.
