British Nuclear lauches sale of reactor sites business
22/12/2006
British Nuclear Fuels Ltd, the UK state-owned nuclear power company, has begun the disposal of assets by launching the sale of its reactor sites management business.
The business, which manages operations and decommissioning at 10 Magnox reactor sites including Oldbury in Gloucestershire and Sizewell in Suffolk, is expected to attract international interest, and will be sold as new company entitled Reactor Sites Management Company.
The government had initially planned to sell BNFL as a single entity, but decided in October that it would realise more capital with the disposal of individual assets.
Future assets to be sold include the contract to clean up Sellafield power station in Cumbria, Britain's largest and most contaminated nuclear site, a one-third stake in weapons deterrent company AWE and BNG's project services division.
Commenting on the reactor sites sale, chief executive Mike Parker said:
“During this process, our focus continues to be the safe, secure and cost-effective operation and clean-up of the UK's civil nuclear sites. In doing so, our key objectives remain to ensure a good home for our people and the delivery of value to our shareholder.”
The sale will be handled by NM Rothschild.
