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AREVA in investment talks with Kazakhstan

AREVA SA is in discussions with Kazakhstan over a possible investment in the French nuclear giant, Reuters reported Oct. 7, citing a spokeswoman for the French industry ministry.

The spokeswoman, however, added that it is too early to say whether an agreement can be reached over the transaction.

According to French TV channel BFM Business, a delegation from Kazakh miner National Atomic Co. Kazatomprom JSC met with French officials on Oct. 6.

"I can confirm that AREVA is in talks with the Kazakhs, as it is in talks with all other investors showing interest," the spokeswoman said, adding that all offers would be taken into consideration.

The French government-controlled nuclear company is working to restructure its business by splitting into two and raising €5 billion to restore its balance sheet.

The report cited a source in Kazatomprom as saying that discussions would probably focus on buying out AREVA's 51% stake in Katco, a joint venture with Kazatomprom.