In line with orientations announced last July 29th, the broad features of the new shareholding structure of FRAMATOME have just been made public. With a 34% share of interest, COGEMA will become the reference industrial shareholder of FRAMATOME, chiefly by contributing its holdings in fuel assemblies fabrication (not including MOX) and sales, currently shared between FRAMATOME and COGEMA.
In parallel, ALCATEL and CEA-Industrie will participate in a reduction of FRAMATOME capital. In addition, ALCATEL will also transfer a part of its FRAMATOME shares to the French State. On completion of these operations, subject to all necessary approvals to be requested before the end of 1999, COGEMA will own 34% of FRAMATOME, the State will hold a 20% interest, and CEA-Industrie 20%, approximately ; less than EDF will retain a share of about 10%.
ALCATEL interest will be reduced to under 10%. On conditions to be determined later, FRAMATOME employees will be offered to increase their participation in this company. It is anticipated that ALCATEL will withdraw completely from FRAMATOME in less than two years, preferably, as press releases indicate, through offering these shares on the market.