The French state will buy the remaining €300 million, Areva said.

The decision was made at a meeting of the supervisory board presided over by chairman Jean-Cyril Spinetta. French Finance Minister Christine Lagarde had announced the plans Friday.

The capital increase represents 7.2 percent of Areva’s share capital.

Bringing the Kuwait Investment Authority, which represents the state of Kuwait, into Areva culminates long months of dickering about raising funds at the French nuclear giant — a strategic asset for France — for a multi-billion dollar investment plan.

The company said in a statement that, in a two-stage process, the move bringing in Kuwait will be followed by a capital increase reserved for investment certificate holders, to be structured as preferred shares without voting rights.

“These transactions will enable the group to strengthen its equity and pursue its development plan with a reinforced capital structure,” the statement said.

The Kuwait Investment Authority, or KIA, will not have a seat on the supervisory board. However, under the deal, a shareholders’ agreement between the French state and KIA provides for the stability of the latter’s stake for 18 months.

To ensure liquidity of the subscribed securities, the state “has agreed to make its best effort to introduce ordinary shares to trading during the first half of 2011,” the statement said. The company’s shares are currently listed in the form of investment certificates.

The group plans an offer reserved for employees once Areva shares are traded, the company said.

A general shareholders’ meeting is scheduled to be held Dec. 23 to approve the plans.