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Nuclear arm sold

Toshiba has sold Westinghouse Electric Company – the nuclear company whose plant design is intended for construction in Moorside, Cumbria – to Canadian asset manager Brookfield for $4.6 billion.

Westinghouse’s US reactor company is currently in bankruptcy protection after it was hit by huge compensation claims over nuclear construction projects. The acquisition is expected to close in the third quarter of 2018, subject to Bankruptcy Court and other regulatory approvals.

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