PARIS (Reuters) - French energy group Engie (PA:ENGIE) said on Tuesday that major issues at British nuclear power company NuGen had led it to decide to sell its stake in NuGen to Toshiba (T:6502).
"NuGen, the U.K.-based nuclear energy company that plans to build three Westinghouse AP1000 reactors in West Cumbria, at Moorside, is facing some significant challenges which have led Engie to exercise its contractual rights in view of transferring its 40 percent shares to Toshiba," Engie said in a statement.
Engie is in the middle of a restructuring programme aimed focussing the group more on regulated power infrastructures, notably gas networks, and contract-based energy services.