By Maarten van Tartwijk
AMSTERDAM--The Netherlands Thursday confirmed it plans to divest
its 33% stake in Urenco Ltd., clearing the way for the sale of the
world's second-largest nuclear fuel maker.
Urenco supplies nuclear fuel to power plants in Europe and the
U.S.
The U.K. government also owns a third of the company, while
Germany's top two utilities--E.ON SE (EOAN.XE) and RWE AG
(RWE.XE)--hold equal shares of the remainder. The Netherlands was
the only shareholder that hadn't yet disclosed its plan to sell its
stake in the company.
The Netherlands is currently in talks with the other
shareholders about shaping the sale process, Finance Minister
Jeroen Dijsselbloem said in a letter to lawmakers Thursday. He said
Urenco is expected to generate "positive interest" from potential
buyers, but that a sale can only take place if the public interest
is safeguarded.
The value of the whole company could be between 8 billion and 12
billion euros ($10.32 billion-$15.49 billion), people familiar with
the matter told The Wall Street Journal in March.
Possible buyers of the firm include French nuclear engineering
company Areva SA (AREVA.FR)and Canadian uranium processor Cameco
Corp. (CCO.T).
Urenco had a net income of EUR401.5 million from revenue of
EUR1.6 billion in 2012, up 12% from the previous year, according to
its most recent financial statement. The company said it has an
order book of more than EUR18 billion extending beyond 2025.
Write to Maarten van Tartwijk at
maarten.vantartwijk@dowjones.com
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