Toshiba Pays $168M For Majority Stake In UK Nuclear Project

Law360, New York (January 14, 2014, 5:37 PM EST) -- Toshiba Corp. has reached deals with two energy companies, through its controlled-company Westinghouse Electric Co. LLC, to purchase for £102 million ($168 million) a 60 percent stake in U.K.-based NuGeneration Ltd., which is developing nuclear power plants in northwest England, Westinghouse said Tuesday.

Japanese energy and technology conglomerate Toshiba, in collaboration with Westinghouse, signed two separate preliminary agreements with French energy giant GDF Suez SA and Spanish utility Iberdrola SA to purchase a majority interest in NuGen. Toshiba said it plans to move forward with the...
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