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Toshiba sells 10 pct in Westinghouse for $540 mln

Mon Aug 13, 2007 1:56am EDT

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ALMATY, Aug 13 (Reuters) - Japan's Toshiba Corp. (6502.T) sold a 10 percent stake in U.S. company Westinghouse to Kazakh uranium producer Kazatomprom for $540 million on Monday.

Mergers & Acquisitions

The deal was signed in Almaty.

"Through this deal Kazatomprom plans to enter new markets for its products," the companies said in a joint statement on the deal.

Westinghouse builds nuclear power plants. State-owned Kazatomprom holds about 10 percent of the global uranium market and plans to grow to 40 percent by 2016-2017.

Mergers & Acquisitions


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