2 Nov (NucNet): The sale of the UK Atomic Energy Authority’s commercial arm has been completed, the British government announced today.
The sale of UKAEA Limited to Babcock International Group for 50 million pounds (about 82 million US dollars) was completed on 31 October 2009.
UKAEA Limited provides nuclear decommissioning, waste management and site environmental remediation services in the UK and overseas. It also manages the pension administration for a number of nuclear industry pension schemes.
The sale follows the announcement in September 2009 that both sides had reached an agreement for the sale. The sale process follows a strategic review performed by the UKAEA following passage of the Energy Act 2004.
>>Related reports in the NucNet database (available to subscribers)
UK Nuclear Group Sells Commercial Arm (World Nuclear Review No. 38, 18 September 2009)
