nuclear-news

October 26, 2018 (Mainichi Japan) TOKYO (Kyodo) — Toshiba Corp. is considering dissolving its British nuclear subsidiary NuGeneration Ltd. as negotiations for its sell-off have stalled, sources close to the matter said Friday.

The Japanese conglomerate is in the process of withdrawing from its overseas nuclear businesses after the bankruptcy of its U.S. subsidiary Westinghouse Electric Co. in 2017.

Korea Electric Power Corp. has been selected as the preferred bidder for the British nuclear subsidiary, but no agreement was reached before its preferred bidder status expired, the sources said.

Toshiba is also at odds over the terms of the unit’s sale with a Canadian asset management company which has shown interest in buying NuGeneration, they said.

NuGeneration plans to build a nuclear power plant with three reactors in Moorside, northwestern England. It was initially scheduled to use reactors manufactured by Westinghouse before the U.S. company went bankrupt.