French Energy firm Areva offers Safran stake for sale to Investors
On Tuesday it was said by market sources that French nuclear firm Areva (CEPFi. PA) has fulfilled a placing of shares in aerospace group Safran (SAF. PA) to institutional investors at 20.23 Euros per share
Areva and book-runner HSBC refused to comment. Safran shares were losing 1.9 percent at 20.2 Euros at 0944 GMT.
Previously Areva alleged that it was selling up to 3.65 percent of its stake in Safran, or about 15.36 million shares, barbed its stake to 1.99 percent.
French nuclear reactor builder Areva (CEPFi. PA) sold its remaining large size stake in aerospace group Safran (SAF. PA), netting 311 million Euros ($431.1 million).
This year Areva is looking to increase 3 billion Euros from shareholders to support its international aspirations. It said that the progress left it with 1.99 percent of Safran which it would seize for at least six months.
Areva said it had sold 15.36 million shares in Safran at 20.23 Euros per share.
At the end of last year it had already condensed its stake from 7.4 percent held. A spokeswoman said it was selling the shares to take benefit of Safran's share price recital.
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