French nuclear firm Areva offers Safran stake for sale

French nuclear power group Areva proposed for sale its majority stake in the aerospace group Safran in an operation reserved for institutional investors, it said on Tuesday.

Areva invited institutional investors to buy 5,362,094 shares representing 3.65 percent stake in Safran company via a private placement, the group said in a statement posted on its web site.

No details were given on the value of the operation.

Following the sale, the French nuclear group will maintain 1.99 percent of Safran stake, according to the firm.

Areva registered a 6.4-percent rise in its turnover to 4.15 billion euros (5.73 billion US dollars) over the first half in 2010 from the same period last year.

Its shares were in red on Tuesday trading session after falling 0.68 percent to 313 euros (432.3 U.S. dollars).

Source:Xinhua