5 billion acquisition of Canadian uranium mining company UraMin

  • 5 billion acquisition of Canadian uranium mining company UraMin

    former staff’s homes searched in UraMin probe

    PARIS, June 3 (Reuters) State controlled nuclear uk canada goose group canada goose Areva headquarters and the homes canadian goose jacket of former executives were searched on Tuesday by France financial prosecutor as part of an investigation into Areva $2.5 billion acquisition of Canadian uranium mining company UraMin in 2007, a judicial source said.

    The source told Reuters canada goose uk shop that a total of 11 searches had been carried out, including at canada goose coats the home of former Areva CEO Anne canada goose clearance sale Lauvergeon and Canada Goose Parka Areva former mining director buy canada goose jacket Sebastien buy canada goose jacket cheap de Montessus.

    Lauvergeon and de Montessus were not immediately available for comment.

    headquarters in the La Defense district have been the object of a search by the financial prosecutor following the referral by the state auditor. The company is cooperating, an Areva spokesman said.

    The prosecutor has opened an investigation into the UraMin acquisition after state auditor Cour des Comptes a quasi judicial auditor canada goose uk black friday that oversees state accounts referred the case canada goose clearance to the Canada Goose sale prosecutor following Canada Goose Online its audit of cheap Canada Goose Areva accounts between 2006 and 2012.

    In a preliminary Canada Goose Jackets report leaked to the French press last month, the auditor gave a withering review of Lauvergeon management of Areva.

    The report said that insufficient oversight and even were among the reasons for canada goose uk outlet Areva ill fated 2007 acquisition of uranium mine UraMin, on which it later to wrote down 1.9 billion euros.

    French daily canada goose coats on sale Le Monde has reported that the prosecutor is investigating possible or publication of canada goose store inaccurate or untrue accounts of false or misleading information and

    Lauvergeon last month rejected the auditor criticism of Canada Goose Coats On Sale her cheap canada goose uk and said she had made no mistakes.

    Lauvergeon, who ran Areva from 2001 to 2011 and who was ranked as the world online website https://www.salecanadagooseoutlets.com Canada Goose UK 9th most powerful woman in 2008 by Forbes magazine, blamed the UraMin writedown on the impact of the 2011 Fukushima nuclear disaster on uranium demand. She Canada Goose Outlet played down reports that the uranium content of the Africa based mines are much canada goose factory sale lower than the sellers had led Areva to believe.

    At the time of the 2007 acquisition, Lauvergeon described the deal as major step in Areva ambitious plan to increase its uranium production

    Uranium prices subsequently fell and UraMin reserves, mostly in southern and central Africa, turned out to be lower than initially estimated, forcing Areva to take a uk canada goose outlet writedown of close to 1.9 billion euros canada goose black friday sale over the years 2010 and 2011.

    After Lauvergeon left Areva in 2011, an internal audit into the deal did Canada Goose online not reveal fraud, but said that presentations made to state holding company APE and to Areva board about the planned UraMin acquisition had not given enough prominence to the doubts that the internal technical teams had expressed. (Reporting by Geert De Clercq, Gerard Bon and Nicolas Bertin; Editing by James Regan).