LONDON, March 17 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
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
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.