Kuwait Investment Authority is willing to sell its share in the French AREVA to the French government, saying that it is currently not interested in nuclear investments.
The Kuwaiti fund paid 712 Million USD to buy 4.82% share in AREVA in 2010. However, the company’s stocks have dramatically decreased, spoiling the company’s capital.
The French government will pay the fund 5.3 USD for each stock, with 18.46 Million stocks (97.8 Million USD). This will cause 86% loss for the Kuwaiti fund.
The Kuwaiti fund decided to buy the share in 2010 as a step to invest in the nuclear market and diversify energy resources for water desalination and electricity generation.
