Report: Hitachi to Buy Horizon Nuclear Power

Hitachi is said to have made an offer for Horizon Nuclear Power – the UK joint venture up for sale by EON and RWE.

The German utilities sought to unload Horizon after Germany's decision to abandon nuclear power. Quoting two anonymous sources, Bloomberg reported Thursday that Hitachi has offered $967 million for the company in a deal that may be announced formally next week.

Horizon was formed in 2009 to develop 6,600 megawatts of new nuclear generation in the UK. It had acquired land at Wylfa and Oldbury to that end.

Westinghouse, with China’s State Nuclear Power Technology Corp., had also been expected to bid on Horizon. Areva and China Guangdong Nuclear Power Group announced they would not pursue Horizon earlier this month.

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