The decision to acquire assets for the processing and refining of uranium concentrate is aimed at ensuring Nuclearelectrica’s production capabilities, the company said in a statement filed with the Bucharest Stock Exchange.
The transaction consists of assets including land, buildings, installations, machinery and equipment in Feldioara, central Romania, but excludes the mining activity there, Nuclearelectrica added.
The completion of the acquisition is subject to necessary transfer authorisations and permits from the authorities.
Established in 1997, CNU is the only company that manages the existing uranium mineral resources in Romania and carries out geological research and exploitation of uranium deposits, ore preparation and refining of concentrates, as well as their transport and trade.
Press reports in Romania said CNU has been subject to repeated insolvency requests due to its precarious financial condition.
In February 2020, the European Union opposed Nuclearelectrica’s intention to buy refined uranium from CNU because the price was 50% above that charged by a Canadian supplier and the deal would have represented state aid.