UK-based nuclear reprocessing company BNFL is to be partly privatized under government plans that could raise up to à‚£1bn ($1.6bn). Up to 49 per cent of the company could be sold in 2001 if performance targets are met.
The government is currently selecting financial advisers for the sale, but it is not yet clear whether the deal will be a stock market listing or a sale to an industry investor. The deal will include BNFL`s Magnox reactors and around à‚£10bn of decommissioning liabilities.
BNFL welcomed the news, and believes that privatization will help its goal to become a leading global nuclear company. In March, the company purchased the Westinghouse nuclear business.