nuclear-news

Toshiba in Talks to Sell Part of Westinghouse Nuclear-Power Unit

• ASIA BUSINESS
• December 27, 2012,

BY MARI IWATA

TOKYO—Toshiba Corp. is negotiating with three parties to sell up to 16% of its Westinghouse Electric Co. nuclear-power unit, Toshiba President Norio Sasaki said.

The three parties “have made very good offers,” but Toshiba is “not in a hurry,” Mr. Sasaki said. The Japanese conglomerate’s forecast for its nuclear-reactor business is positive, despite softer demand after last year’s Fukushima disaster in Japan, he said.

Toshiba paid about $4.2 billion for 77% of U.S.-based Westinghouse six years ago. At that price, the 16% would be valued around $875 million. Toshiba has since sold 10% of Westinghouse to Kazakhstan state-owned NAC Kazatomprom …

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December 29, 2012 - Posted by arclight2011 | Uncategorized