Chubu Electric Power to acquire a minority stake in NuScale Power from Japan Bank for International Cooperation.

Transaction Tags

• Pending
• Single Bidder
• Acquisition
• Friendly
• Energy / Utility Services
• nuclear technology
• United States
• Cross Border
• Private
• Minority

Synopsis

Chubu Electric Power, an electric utilities provider, agreed to acquire a minority stake in NuScale Power, a provider of nuclear technology, from Japan Bank for International Cooperation, a financial institution. Financial terms were not disclosed. "Through our investment in NuScale, we aim to earn revenue from NuScale's future business expansion. In addition, it is important to secure all options for the sustainable use of nuclear power generation, which is indispensable for realizing a decarbonized society and we will continue to promote social implementation of innovative technologies to enhance our corporate value." Hiroki Sato, Chubu Electric Power Division CEO of Global Business Division.

Sources