Latest news with #FrenchState
Yahoo
3 hours ago
- Business
- Yahoo
Niger to nationalise Somair uranium venture operated by France's Orano
NIAMEY (Reuters) -Niger's government announced plans to nationalise the Somair uranium joint venture operated by French nuclear fuels company Orano, according to a statement read out on national television in the West African nation on Thursday. The decision is an escalation of a dispute between the Niger government and the French company, following a deterioration of relations between France and Niger after a military coup in July 2023. The statement cited a series of grievances including the expiration of the latest mining agreement in December 2023. "Faced with this irresponsible, illegal, and unfair behaviour by Orano, a company owned by the French state — a state openly hostile toward Niger since July 26, 2023 ... the government of Niger has decided, in full sovereignty, to nationalise Somair," the statement said. A spokesperson for Orano declined to comment. Orano holds a 63% stake in Somair, while Niger's state-owned Sopamin owns the remainder, but the French operator has been shut out since the military-led government seized control of the uranium mine. Orano, which has been pursuing arbitration against Niger and has filed lawsuits in the country against the state's actions, has been warning of government interference at Somair, which it said was damaging the mine's financial situation. According to a Financial Times report in May, the company was also exploring the potential sale of its stake in the uranium venture.
Reuters
13 hours ago
- Business
- Reuters
Niger to nationalize Somair uranium venture operated by France's Orano
NIAMEY, June 19 (Reuters) - Niger's government on Thursday announced plans to nationalize the Somair uranium joint venture operated by French nuclear fuels company Orano, according to a statement read on national television in the West African nation. The statement cited a series of grievances including the expiration of the latest mining agreement in December 2023. "Faced with this irresponsible, illegal, and unfair behaviour by Orano, a company owned by the French state — a state openly hostile toward Niger since July 26, 2023 ... the government of Niger has decided, in full sovereignty, to nationalize Somair," the statement said. The decision is an escalation of a dispute between the government and the French company, following a deterioration of relations between France and Niger after a military coup in July 2023. Orano holds a 63% stake in Somair, while Niger's state-owned Sopamin owns the remainder, but the French operator has been shut out since the military-led government seized control of the uranium mine. Orano, which has been pursuing arbitration against Niger and has filed lawsuits in the country against the state's actions, has been warning of government interference at Somair, which it said was damaging the mine's financial situation. According to a Financial Times report in May, the company was also exploring the potential sale of its stake in the uranium venture.
Free Malaysia Today
02-06-2025
- Business
- Free Malaysia Today
French state offers to buy Atos nuclear tech
Atos has sought to sell assets as part of a restructuring plan to reduce its debt load. (RFI pic) PARIS : The French state has made a €410-million (US$468 million) offer to acquire a strategic division of tech firm Atos that includes supercomputers used in nuclear deterrence, the company said today. Atos, an Olympics partner which also has contracts with the French military, has sought to sell assets as part of a restructuring plan to reduce its debt load. The company said it received an offer from the state for its advanced computing business. The offer 'is a major step toward securing the strategic supercomputing activity,' finance minister Eric Lombard said in a separate statement. 'It is the state's responsibility, when warranted, to ensure the continuity and development of the country's most strategic industrial capabilities,' he said. The scope of the government's offer has changed since the two sides entered exclusive talks in November. It no longer includes Atos' artificial intelligence (AI)–powered video analytics business, Vision AI. 'I hope to conclude this acquisition process as swiftly as possible to secure the future of these critical activities for France,' Lombard said. The advanced computing division, which employs more than 2,500 people mostly in France, develops high-performance servers and supercomputers with critical defence and industrial applications. Atos expects the unit to generate nearly €800 million in revenue in 2025. A binding agreement is expected in the coming weeks, with the deal closing in 2026.
Bloomberg
02-06-2025
- Business
- Bloomberg
Atos Gets Offer From French State for Strategic Computing Assets
Atos SE said it received an offer from the French state for the group's advanced computing assets, which values the unit deemed critical to the country's nuclear industry at €410 million ($467 million). The assets include high-performance computing, quantum and artificial intelligence divisions that are expected to generate revenue of about €800 million in 2025, according to a statement on Monday. Atos said it aims to sign a binding agreement in the coming weeks and close the transaction in 2026. The enterprise value includes €110 million in earn-outs based on profitability indicators.
Reuters
02-06-2025
- Business
- Reuters
French state makes offer to buy part of Atos' former Advanced Computing unit
PARIS, June 2 (Reuters) - The French state has made a 410 million euros ($466.33 million)confirmatory offer to buy part of the former Advanced Computing business of tech company Atos ( opens new tab, said Atos on Monday. Once seen as a European tech champion, with a market value of more than 10 billion euros at its highest, Atos emerged from financial troubles in 2024 thanks to a restructuring agreement with its creditors. Atos said the French state's offer for its former Advanced Computing business was worth 410 million euros on an enterprise value basis. It added that its Vision AI businesses did not form part of the planned deal with the French government, and that Vision AI would be repositioned within Atos' Eviden business unit. ($1 = 0.8792 euros)
