Urenco buys Westinghouse stake in NEF

8 March 2006

A 24.5% stake in Louisiana Energy Services (LES) and the National Enrichment Facility (NEF) is being bought by Urenco from Westinghouse.

Westinghouse decided to sell its interest in LES to Urenco to allow the Nuclear Regulatory Commission (NRC) to review Urenco as a full partner. As the NEF project approaches construction and operations, both companies agreed Urenco is in the best position to manage these activities.

Dr Helmut Engelbrecht, Urenco chief executive said: "The transfer of Westinghouse's interest to the Urenco group will assist in the progress of the licence application and will enable LES to build the NEF."

The ultimate shareholders in Urenco remain unchanged with BNFL, UCN (backed by the Dutch government), and E.ON and RWE.

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