July 31, 2017 / 2:07 PM / 23 days ago

MHI says to buy 19.5 percent of Areva New NP

PARIS, July 31 (Reuters) - Japan's Mitsubishi Heavy Industries (MHI) will buy a 19.5 percent stake in nuclear reactor builder Areva New NP as part of the sale of the Areva <AREVA.PA > unit to utility EDF, MHI said in a statement.

MHI confirmed it is also scheduled to acquire a 5 percent stake in nuclear fuel group New Areva Holding, formerly referred to as "NewCo", by the end of this year.

Earlier this month, EDF said it had agreed to sell a 15 percent in New NP to MHI - which could later rise to 19.5 percent - based on a New NP valuation of 2.5 billion euros ($2.94 billion). It said French company Assystem would also buy 5 percent stake in the New NP group. ($1 = 0.8508 euros) (Reporting by Geert De Clercq; Editing by Ingrid Melander)

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