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Hitachi Ltd Nears British Nuclear Project Deal From E.ON AG And RWE AG-Reuters


Saturday, 27 Oct 2012 12:58pm EDT 

Reuters reported that Hitachi Ltd is close to buying British nuclear new-build project Horizon. Hitachi, which is leading a consortium bidding for the project, was likely to be the winner. Japanese media said on Saturday the deal was expected to be worth more than 50 billion yen ($628.5 million) while analysts have put the value of Horizon at about 500 million euros ($646.6 million). Horizon, which plans to build 6 gigawatts (GW) of nuclear capacity, was put up for sale by its owners, E.ON AG and RWE AG, in March, as Germany's decision to pull out of nuclear power hurt their finances. 

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