Toshiba buying 50% stake in UK nuclear compan

Will pay US$200 million for NuGeneration.

Japanese multinational engineering and electronics conglomerate Toshiba Corporation announced plans to acquire a controlling stake in British nuclear company, NuGeneration. NuGeneration is currently owned by France-based GDF Suez and Spanish Iberdrola, each holding a 50% stake in the company. It plans to build a new nuclear power station on the Sellafield site in the United Kingdom. NuGen was established in February 2009 as a joint venture between GDF Suez, Iberdrola and Scottish and Southern Energy.