Britain to sell stake in Urenco

Suzie Neuwirth

THE BRITISH government has today confirmed that it is willing to partially or entirely divest its 33 per cent stake in nuclear fuel provider Urenco, in a deal which is valued at up to €3.3bn (£2.8bn).

Several buyers are reportedly interested in the stake, including French nuclear group Areva and Japan’s Toshiba.

The decision to proceed with a sale follows agreements with the other stakeholders, which both own one third each, Germany and the Netherlands.

“Urenco is a world leading, high technology company with strong earnings and the time is right for government to sell its stake,’ said business and energy minister Michael Fallon (pictured).

“It makes good commercial sense now and is consistent with our position that assets should be sold where ownership itself does not deliver any policy objective.

“Our priority is to ensure taxpayers’ money is being used in the most effective way to boost economic growth. Any sale will make sure we deliver value for money and protect the UK’s security and non-proliferation interests.”