Power Group Online Article |  | |
6 February 2007 - The Areva Group announced that it has published a cash tender offer for the shares it does not already own in REpower Systems AG.
Areva currently holds more than 29.9 per cent of REpower and has been a strategic partner and investor in the company since September 2005. The offer period will run until 7 March 2007, unless extended.
As announced previously on 22 January 2007, AREVA is offering €105 ($136) per REpower share, which values REpower's equity at more than €850m. As outlined in the offer document, the offer will be subject to Areva achieving at least 50 per cent plus one share ownership in REpower and usual customary conditions.
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