Europe Cools on Nuclear, Asian Investors Eye Urenco
In a post-Fukushima world, Europe has cooled interest in nuclear energy. The United Kingdom is privatizing noticeable state-owned entities and companies and seeks to continue the trend with nuclear fuel company Urenco.
Established in 1971, Urenco is a world leader in uranium enrichment. And due to the nature of its product, has legal restrictions on who can own it. Currently, the U.K. controls a ⅓ stake in the firm. E.ON and RWE (German utilities) together control another ⅓, and the remainder is owned by the Dutch finance ministry.
Nuclear energy is a tricky business, a veritable maze of government controls and policy. Ownership in Urenco is governed by the Treaty of Almelo. This treaty stresses that the enrichment of uranium is strictly a service activity and forbids the proliferation of material to make weapons of mass destruction (WMDs).[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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