AREVA logo

Capital structure


AREVA shareholding structure is particularly stable. The French State controls directly or indirectly 86,52% of AREVA's capital. The main shareholder is a public organization, the CEA (Commissariat à l'Energie Atomique et aux énergies alternatives). The Bpifrance Participations SA (Banque Publique d'Investissement) represents also a public shareholder of the company.

Shareholder structure December 31, 2016

*   KIA (Kuwait Investment Authority).
** Bpifrance Participations SA (Banque Publique d'Investissement).


The current shareholder structure is a derivation of the original structure and dates from AREVA’s foundation on September 3, 2001 and successive market transactions.

  • At AREVA's foundation, numerous shareholders (Total, EDF...) exchanged a number of minority holdings primarily in COGEMA and Framatome SA for shares in the new AREVA group.
  • The holdings of the original shareholder, the CEA (Commissariat à l'Energie Atomique et aux énergies alternatives) is still at a majority stake that is for now at 54%.
  • In December 2010, the sovereign fund of Koweit (Kuwait  Investment Authority) has entered the capital of AREVA at a 5% level, followed by the French State which reinforced his direct stake.
  • The capital increase reserved to investment certificates holders (only listed investment tool at this time) at the beginning of 2011 allowed to keep the float (part of the capital held by the general public) at 4% of the capital.
  • The exchange in 2011 of all AREVA's shares into ordinary shares had considerably simplified the structure of AREVA's capital.
  • Since May 30, 2011 AREVA’s entire capital has been listed in the form of ordinary shares.

Change in shareholding December 31, 2016


December 31, 2016

Theoretical % of voting rights (1) & number of shares

(% of share capital)

December 31, 2015

Theoretical % of voting rights (1) &

% of share capital

December 31, 2014

Theoretical % of voting rights (1) &

% of share capital


57.02%, representing

208,349,383 shares (54.37%)



French State

29.97%, representing 

110,487,336 shares (28.83%)



Kuwait Investment
Authority (KIA)

5.05%, representing 

18,461,538 shares (4.82%)



Bpifrance Participations SA

1.74%, representing 

12,712,910 shares (3.32%)




2.35%, representing 

8,571,120 shares (2.24%)



Total group

1%, representing 

3,640,200 shares (0.95%)



FCPE AREVA France actions salariés, FCPE AREVA International actions salariés & US-Employee Stock Purchase Plan

0.63%, representing 

4,616,478 shares(4)(1.20%)



Framépargne (employees)

0%, representing 

0 shares (5)





2.11%, representing 

15,395,371 shares (4.02%)



Members of the Supervisory Board (2)




Treasury shares(6)

0.1%, representing 

740,490 shares (0.19%)



Liquidity contract (6)

  0.03%, representing 

230,026 shares (0.06%)







(1) Theoretical voting rights are calculated based on the total number of shares to which a voting right is attached, including shares without voting rights (treasury shares and shares under the Company’s control).

(2) The members of the Supervisory Board appointed by the Shareholders (other than the CEA) each held 10 shares until January 8, 2015, the date of the change of governance and the date on which said shares were respectively retransferred to the CEA.

(3) On December 11, 2014, the CEA sold 27,412,875 shares representing 7.15% of AREVA’s share capital to the French State for the amount of 334,300,010.63 euros.

(4) The offer of AREVA shares to the Group’s employees in May 2013 was carried out via a disposal of existing treasury shares bought previously by AREVA in connection with a share purchase program authorized by the Shareholders on May 10, 2012 pursuant to article L. 225-209 of the French Commercial Code.

(5) The Framépargne fund merged with the AREVA France actions salariés investment fund on August 6, 2015.

(6) Pursuant to article L. 225-210 of the French Commercial Code, shares held directly by the Company or through a person acting in his or her own name do not carry voting rights.

Live stock market price tracking

Paris 07/25/2017 at 17:35

4,43 euros -0,76 %

2016 Reference document