Updated 11:29am 14 February 2012:

Government favours sell off for Urenco

THE UK Government is reportedly lining up banks to handle the sale of its stake in the Chester-based Urenco, the uranium enrichment operation.
 
Urenco, situated at Capenhurst, enriches uranium for nuclear power plants and is one of the Government's last key assets that could generate significant funds for the Treasury.
 
The Government owns a third of Urenco, while a third is held by the Dutch Government with the rest held by German utilities Eon and RWE.
 
Privatisation is favoured by the UK Government rather than the Dutch option of a flotation as, according to weekend reports, British security fears that shares in Urenco could fall into the wrong hands through flotation.
 
Urenco is valued at £11.7bn in total and a sale could raise £4bn for the UK's coffers.
 
The Government indicated last year that it wanted to cash in its share in Urenco and a sale could be effected this summer, with Japanese and Korean power companies favourites among prospective bidders.

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