April 8, 2019 / 7:42 AM / 15 days ago

BUZZ-Centrica: Gains on report of potential UK nuclear stake sale

** Shares of Britain’s largest energy supplier rise as much as 2.1% to outperform UK’s main index

** The Telegraph reports bit.ly/2U4HJ4y Greencoat Capital understood to be in talks to launch a new fund targeting the planned 4-bln-pound sell-off of a minority stake in UK's seven nuclear reactors from EDF Energy and Centrica

** Jefferies analysts say the 4 bln stg valuation for a 49% stake implies a 1.6 bln stg valuation for CNA’s 20% stake vs. Jefferies’ estimate of ~1 bln stg

** If Centrica manages to sell its stake for >1 bln stg, it would reduce financial net debt by 30% and economic net debt (Moody’s) by 20% - Jefferies

** Stock last seen up 0.6 pct

** Up to Friday’s close, stock had slipped 17.6 pct YTD

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