Anne-Francoise Pele EE Times Europe (07/01/2009 6:17 AM EST)

PARIS — Paris-based nuclear power giant Areva said it is considering disposing of its stakes in chipmaker STMicroelectronics NV (Geneva, Switzerland).

Seeking to reinforce its position on the nuclear market and to make further inroads in the renewable energies market, Areva said it has to make sure it invests and recruits, while maintaining a healthy balance sheet.

As a matter of fact, Areva reported that its Supervisory Board has decided to open up its capital to strategic and industrial partners, to the value of 15 percent, mainly by increasing its capital. This increase will be open to investment certificate holders. The group is also launching an employee shareholders program.

In addition, Areva said it is considering disposing of its stakes in French metal mining group Eramet and STMicroelectronics. "In any case, these stakes will remain in the public sector because of their strategic nature," stated the French company.

Commenting on these decisions, Jean-Cyril Spinetta, newly-elected chairman of Areva Supervisory Board, declared: "Through the strategy in place since 2001, Areva has become the reference in its field. Solutions for generating CO2-free energy - its core business - have undisputed prospects for growth. The group must be able to pursue an ambitious investment program to take advantage of its growth. The plan that has been finalized by the shareholders will completely enable it to do so."

Mid-June, Italian conglomerate Finmeccanica SpA said it intended to sell its remaining 3.2-percent stake in ST.

As of December 31, 2008, ST had approximately 910 million outstanding shares, more than 70 percent of which are publicly traded on the various stock exchanges, while 27.5 percent are held by STMicroelectronics Holding II B.V., a company whose shareholders are Cassa Depositi e Prestiti and Finmeccanica of Italy, and Areva and CEA of France.