UK puts a $4.6bn price tag on Urenco stake

The UK Government expects to obtain up to $4.6 billion (£3bn) this year by selling its one-third stake in Urenco, the uranium enrichment company it co-owns with Germany and the Netherlands.

According to FT.com (subs. required) the deal would be one of the largest privatizations seen in the UK and would help the Treasury chip away at the country’s massive debt.

Urenco employs 1,400 people in the UK and also has operations in in the Netherlands, Germany and the US.

Potential buyers could include Canada’s Cameco, Toshiba and the Canada Pension Plan Investment Board. It has also been reported that Areva, the French nuclear company, and a private consortium may also be interested in acquiring a stake in Urenco.

However, there have been recent security concerns around a disposal as Urenco’s technology to enrich uranium for power plant fuel can also be used to make nuclear weapons.

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