TOKYO Jan 13 Toshiba Corp is in the
final stages of buying around 10 percent of British nuclear
power firm NuGen from French utility GDF Suez SA,
boosting its stake to around 60 percent, the Nikkei business
daily reported on Monday without citing sources.
Toshiba would buy the stake from GDF Suez, which owns 50
percent of NuGen, for about 3 billion yen ($29 million), the
The Japanese conglomerate could not be immediately reached
for comment due to a national holiday.
Toshiba has been seeking a majority holding in NuGen which
would guarantee a $14 billion deal for its unit to supply NuGen
with three reactors, Chief Executive Hisao Tanaka said late last
Spanish utility Iberdrola SA, which is selling
assets to reduce debt, last month agreed to sell its 50 percent
stake in NuGen to Toshiba for 85 million pounds ($140.12
million), subject to final approvals, terms and conditions.
A controlling stake would allow Westinghouse, 87
percent-owned by Toshiba, to supply three of its AP1000 reactors
for a NuGen power station in Sellafield, northwestern England,
which will have the capacity to produce 3.6 gigawatts.