AREVA accepts Mirion-Charterhouse bid to acquire Canberra subsidiary

AREVA said late last week that its board of directors accepted the Mirion-Charterhouse team's offer to acquire its nuclear instrumentation and measurement subsidiary Canberra.

Mirion is a group focused on radiation-detection equipment and monitoring systems, as well as dosimetry services. Its parent company, Charterhouse, is an independent private equity house that operates in Europe. AREVA said Charterhouse has approximately $7.3 billion in assets that the company manages and has completed approximately 140 major transactions.

The acquisition is subject to the approval of regulators, and representatives of Canberra employees will be consulted by Mirion-Charterhouse. AREVA said both parties anticipate that the sale will be completed by the end of 2016.

The decision to sell Canberra is part of AREVA's restructuring strategy to refocus its business toward nuclear-cycle processes for electrical generation.

AREVA is an international company based in France that specializes in multiple aspects of the nuclear power industry. The company is involved in the design and production of nuclear reactor units, components for reactors, fuel and associated assemblies. The company also specializes in nuclear site management and decommission operations.