AREVA announces the closing of the sale of FCI to Bain Capital
November 03, 2005
November 3, 2005
Following the agreement signed on September 19, 2005, with the private equity firm Bain Capital, AREVA announces today the closing of the sale of its connectors subsidiary, FCI.
The closing occurred after the approval from the antitrust authorities and the decree following the recommendation of the French “Commission des Participations et des Transferts”.
The disposal of FCI allows AREVA to focus its resources on its core business, energy.
The transaction values FCI at an enterprise value of 1.067 billion euros.
The disposal of FCI should have a positive impact of more than €500 million on AREVA group's 2005 consolidated net income and generate a positive cash flow of about €850 million.