AECL sale uncertain

Efforts to sell Canada’s nuclear power agency, Atomic Energy of Canada Ltd. (AECL), may have suffered a setback after the most likely buyer backed out.

The government has spent almost two years trying to sell the commercial divisions of AECL, the owner of the Candu reactor technology,à‚ that build and maintain nuclear power reactors.

CBC News reported that one of the key shareholders of Bruce Power Corp., the only company officially left in the running as of Jan. 1, was opposed to buying AECL.

The board of Bruce Power made its decision on the proposed deal at a meeting in mid-January. According to a Canadian Press report, Bruce Power’s CEO told staff that the firm had dropped out of the bidding process.

The future of the AECL sale is uncertain at this time.

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