LONDON – British Nuclear Fuels Limited (BNFL) has owned Westinghouse since 1999. But now three heavyweight Japanese and South Korean companies are bidding to take it over amid U.S. concerns that foreign ownership of a major nuclear energy company could threaten national security. As a result, pressure is mounting on the British government, which owns BNFL, to sell the company to a U.S. business, according to the U.K.‘s Independent newspaper.
Among the contenders are Japan‘s Mitsubishi Heavy Industries, a long-time business partner of Westinghouse, and Toshiba, as well South Korea‘s Doosan Heavy Industries. But the most likely winner is apt to be General Electric, which has teamed up with the New York-based hedge fund Cerberus and Louisiana-based Shaw. read more