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24/09/2008
EDF To Takeover British Energy
The Government welcomed EDF's proposed £12.5 billion takeover offer for British Energy Group and the British Energy Board's recommendation of the offer to its shareholders.
The Government has committed to accept the cash offer of 774p per share for its 36% stake held by the Nuclear Liabilities Fund (NLF), subject to certain conditions.
Prime Minister Gordon Brown said: "New nuclear is becoming a reality. This deal is good value for the taxpayer and a significant step towards the construction of a new generation of nuclear stations to power the country. Nuclear is clean, secure and affordable; its expansion is crucial for Britain's long term energy security, as we reduce our oil dependence and move towards a low carbon future."
Business Secretary John Hutton said: "Nuclear has the clear potential to play a central role in giving our country a diverse energy mix. It will be indispensable for our long term energy security.
"Our ambition is to have more than one nuclear operator and so to accelerate the building of new nuclear power stations. There are strong signals of an appetite for this from the power industry and today's announcements mean a number of sites could be made available for others to play a part."
A spokesperson for EDF Energy said: "We are delighted that the British Energy Board is unanimously recommending our offer to its shareholders. EDF and British Energy complement each other perfectly and this is an exciting announcement for us both. For EDF, this is a historic milestone in our strategic development plans in Europe and enables the EDF Group to develop significantly in the UK, one of its key markets. For British Energy, it places it at the vanguard of New Nuclear Build in the UK and at the centre of the global nuclear renaissance.
"There is a great fit between our two companies. Combining the people, knowledge, skills, experience and assets of EDF and British Energy will set the standard for the delivery of safe, economic, low carbon generation both in Britain and around the world. We look forward to welcoming British Energy's management and employees into the Enlarged Group."
(CD/JM)
The Government has committed to accept the cash offer of 774p per share for its 36% stake held by the Nuclear Liabilities Fund (NLF), subject to certain conditions.
Prime Minister Gordon Brown said: "New nuclear is becoming a reality. This deal is good value for the taxpayer and a significant step towards the construction of a new generation of nuclear stations to power the country. Nuclear is clean, secure and affordable; its expansion is crucial for Britain's long term energy security, as we reduce our oil dependence and move towards a low carbon future."
Business Secretary John Hutton said: "Nuclear has the clear potential to play a central role in giving our country a diverse energy mix. It will be indispensable for our long term energy security.
"Our ambition is to have more than one nuclear operator and so to accelerate the building of new nuclear power stations. There are strong signals of an appetite for this from the power industry and today's announcements mean a number of sites could be made available for others to play a part."
A spokesperson for EDF Energy said: "We are delighted that the British Energy Board is unanimously recommending our offer to its shareholders. EDF and British Energy complement each other perfectly and this is an exciting announcement for us both. For EDF, this is a historic milestone in our strategic development plans in Europe and enables the EDF Group to develop significantly in the UK, one of its key markets. For British Energy, it places it at the vanguard of New Nuclear Build in the UK and at the centre of the global nuclear renaissance.
"There is a great fit between our two companies. Combining the people, knowledge, skills, experience and assets of EDF and British Energy will set the standard for the delivery of safe, economic, low carbon generation both in Britain and around the world. We look forward to welcoming British Energy's management and employees into the Enlarged Group."
(CD/JM)
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Greenpeace wins nuclear power battle
Greenpeace has won its legal battle which means the government may have to reconsider its plans to build a new generation of nuclear power stations. A High Court judge ruled that the government's consultation process before making the decision last year was "seriously flawed" and "procedurally unfair".
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Sellafield set to reduce radioactive discharges
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17 February 2004
Nuclear watchdog chief to return to Libya
The head of the UN's nuclear watchdog agency has confirmed that he will visit Libya next week to ensure that its nuclear programme has been placed on an exclusively peaceful footing. The Director-General of the Vienna-based International Atomic Energy Agency (IAEA), Mohamed ElBaradei, will meet with senior Libyan officials on February 23 and 24.
Nuclear watchdog chief to return to Libya
The head of the UN's nuclear watchdog agency has confirmed that he will visit Libya next week to ensure that its nuclear programme has been placed on an exclusively peaceful footing. The Director-General of the Vienna-based International Atomic Energy Agency (IAEA), Mohamed ElBaradei, will meet with senior Libyan officials on February 23 and 24.
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