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(Revised from original 2009 version)
Areva, the world's market leader in civilian nuclear power, was positioned to take advantage of the resurgence of nuclear power. However, three issues clouded the positive outlook: (1) a 1.7 billion euro loss on the construction of the first next generation nuclear reactor in Finland, (2) the decision of German company Siemens to pull out of its partnership in Areva NP and exercise its 2.1 billion euro put option, and (3) the projected investment budget shortfall of 3 billion euros in 2008. How can Areva best generate cash to finance its investments for 2008 and beyond?
Keywords: Budgets and Budgeting;
Narayanan, V.G., and Lisa Brem. "Areva." Harvard Business School Case 109-092, June 2009. (Revised from original May 2009 version.)