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Korea's KEPCO in talks with Toshiba, Engie to buy stake in NuGen

South Korean power utility Kepco is in talks with Japan's Toshiba and France's Engie about buying a stake in the Toshiba-Engie British nuclear joint venture NuGen, a source familiar with the situation told Reuters on Monday. The source did not specify whether KEPCO would buy a part or all of the stakes of Toshiba or Engie. Both companies are looking for partners to reduce their share in the capital-intensive project. The NuGen consortium is competing with French power utility EDF's 18 billion pound Hinkley C project in Somerset, southwest England, which is no longer certain to go ahead since the intervention of the UK's new prime minister Theresa May. The Financial Times on Monday reported that Korea Electric Power Corporation (KEPCO) had resumed talks about joining NuGen after negotiations stalled three years ago and is mulling taking an equity stake and a role in constructing the new nuclear plant near Sellafield, northwest England.


Engie,KEPCO,NuGen,Toshiba,Power Utility,M&A,Mergers & Acquisitions,Stake Sale,Korea,South Korea,Nuclear Power