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Canada’s Brookfield in talks with Toshiba, about buying British new nuclear init NuGen

Toshiba in talks with Brookfield for U.K. nuclear unit sale: sources, Globe and Mail , REUTER, SEPTEMBER 18, 2018 Toshiba Corp is in talks with Canada’s Brookfield Asset Management Inc for the potential sale of its UK nuclear unit NuGen, a source familiar with the matter said on Tuesday.

Brookfield has emerged as one of several new candidates since Korea Electric Power Corp (KEPCO) lost its preferred bidder status in July, said the source, who declined to be identified as the talks are private.

The talks, first reported by the  Financial Times, are at an early stage, the source said.  ………

The NuGen project in Moorside, northwest England, was expected to provide around 7 per cent of Britain’s electricity, but faced setbacks after Toshiba’s nuclear arm Westinghouse went bankrupt last year.

NuGen said last week it has cut the team working on its project, to fewer than 40 people from more than 100 as a sale of the project is taking longer than expected. https://www.theglobeandmail.com/business/article-toshiba-in-talks-with-brookfield-for-sale-of-uk-nuclear-unit-report/

September 18, 2018 - Posted by | business and costs, Canada

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