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Japan's Toshiba to boost stake in US nuclear power giant Westinghouse

AFP
October 11, 2012, 10:37 am TWN

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TOKYO -- Japan's Toshiba said Wednesday it will boost its stake in U.S. atomic power-plant giant Westinghouse Electric as it eyes overseas deals after domestic demand fell away following last year's Fukushima disaster.

The firm said it would pay 125 billion yen (US$1.6 billion) for the 20-percent stake in Westinghouse owned by U.S.-based Shaw Group, lifting its holding to 87 percent.

It said the purchase would be financed through “immediately available cash and/or loans.”

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