Toshiba talks with Brookfield for NuGen sale fall through: Reuters

Japanese conglomerate Toshiba Corp is considering liquidating its U.K. nuclear unit NuGen, sources told Reuters, leaving Britain to seek alternatives for a project that was meant to provide 7 percent of the country’s electricity. The move comes as Toshiba believes talks to sell the unit have dragged on too long, the sources said. Korea Electric Power Corp (KEPCO) was initially the preferred bidder, but lost that status in July. Toshiba then negotiated with Canada’s Brookfield Asset Management, but the talks fell through. The NuGen project in Moorside, northwest England, faced setbacks after Toshiba’s nuclear arm Westinghouse went bankrupt last year.

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