Hitachi Takes Over UK Nuclear Projects In $1B Deal

Law360, New York (October 30, 2012, 2:22 PM EDT) -- Japanese technology firm Hitachi Ltd. has agreed to buy Horizon Nuclear Power from two German utilities for £696 million ($1.12 billion), with plans to help the company open up to six new nuclear power plants in the U.K. in the next decade, the parties announced Tuesday.

The acquisition is part of a broader strategy to build a nuclear power network in the U.K., where Hitachi said it will construct new plants at Wylfa on Anglesey and Oldbury in Gloucestershire that will be operational by the first...
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