Canada Pension Plan eyes nuclear fuel producer Urenco -paper
LONDON, March 17
LONDON, March 17 (Reuters) - The Canada Pension Plan Investment Board (CPPIB), one of the world's biggest pension funds, could be interested in bidding for nuclear fuel producer Urenco, the Sunday Times reported without citing sources.
CPPIB, which manages Canada's national pension fund, declined to comment on the article.
The Dutch government, which co-owns Urenco with the British government and German utilities RWE and E.ON , has now dropped its opposition to a sale of the firm, the Sunday Times also reported, citing sources close to the talks.
Cameco, a Canadian uranium producer, is also weighing an offer for Urenco, said the Sunday Times. Sources told Reuters in January that France's Areva and Japan's Toshiba Corp were considering bids for the company.
The newspaper said that Areva was holding talks with private equity firms including Apax and CVC, regarding a possible joint offer for Urenco, and that Morgan Stanley had been appointed to handle the sale, with a float also a possibility.
Analysts estimate that the Buckinghamshire, UK-based uranium enrichment firm is worth between 2.5 billion euros and 3.6 billion euros ($3.27 billion to $4.70 billion), but some of the sellers are hoping for as much as 12 billion euros.
Urenco and Areva were not immediately available for comment.
- Missing jet may have strayed toward Andaman Sea: Malaysian air force |
- Malaysia military source says missing jet veered to west |
- Toddler found with heroin at New Jersey daycare center
- Special Report: How China's official bank card is used to smuggle money |
- Ukraine appeals to the West as Crimea turns to Russia |