British Nuclear Fuels considers $1bn sale of Westinghouse
British Nuclear Fuels is considering whether to sell its Westinghouse business for $1bn (£548m), according to circulated reports at The Times.
The Times said the decision on whether to sell the business, which builds nuclear power stations, would be announced by the end of the month but BNFL has not confirmed that a decision has been made. These reports come a short while after BNFL scrapped its plans to privatise the whole business.
Westinghouse would be seen as an attractive investment because it has been bidding for contracts to build power stations in the USA and China. Cerberus Global Investments, a private equity firm with Dan Quayle as its chairman, is rumoured to be interested in Westinghouse, with speculation also surrounding the possible intentions of Shaw Group and the French nuclear firm Areva.
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