Toshiba Buys into U.K. Nuclear Sector

GALWAY, IRELAND--July 7, 2014 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) Japan's Toshiba Corporation (TYO:6502) (Tokyo, Japan) has confirmed its entry into the U.K. nuclear power market with the purchase of a controlling stake in the NuGeneration Limited (NuGen) nuclear joint venture company for €128 million ($173 million).

The company first revealed its aims in February and has now completed the purchase of a 50% stake from NuGen founding partner Iberdrola SA (MCE:IBE) (Bilbao, Spain) and 10% from GDF Suez (OTC:GDSZF) (Paris, France).