BERLIN (AP) -- Germany's Siemens AG says it has sold its stake in a joint venture to build nuclear power plants with Areva NP for euro1.62 billion ($2.3 billion) to the French firm.
Spokesman Constantin Birnstiel said Sunday the company sold its 34 percent stake on March 18 to Areva SA which also owns the remaining 66 percent.
He added that court proceedings were ongoing and Siemens could not comment further.
In 2009, the German engineering company pulled out of the Areva NP unit, the world's largest builder of atomic power plants, complaining that its minority shareholding didn't give it enough say over the business.
Munich-based Siemens then announced it would join Russia's Rosatom to develop nuclear reactors, but that deal is on hold pending the Areva proceedings.