Japan's Toshiba said Wednesday it would buy a controlling interest in British nuclear firm NuGeneration as it tries to rekindle an atomic business hammered by the 2011 Fukushima crisis.
The engineering giant said it had reached a deal with NuGeneration's owners -- France's GDF Suez and Spain's Iberdrola -- to take a 60 percent stake in the firm, which plans to build nuclear power plants in northwest England.
The purchase was worth about 102 million pounds ($167 million), but it was "subject to adjustment", Toshiba said without elaborating.
Toshiba's Tokyo-listed shares jumped 4.54 percent to 483 yen in early afternoon trading.
After closing the deal, expected in the first half of the year, Toshiba will hold the majority stake in the British firm, while GDF Suez will own 40 percent. The French and Spanish firms each currently hold a 50 percent share of NuGen.
- See more at: http://dailynews.lk/business/japans-toshiba-buy-60-stake-british-nuclear-firm#sthash.ljlbYF2S.dpuf
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