Ministers prepare privatisation of BNFL

Article Abstract:

The Government has announced that it is making preparations to privatise the state-owned nuclear fuel reprocessing company BNFL. Peter Mandelson, the Secretary of State for Trade and Industry, has made the decision to sell the plant. It is a controversial decision because of BNFL's involvement with the nuclear weapons programme. There is also the issue of financial liabilities linked to the civil nuclear industry. KPMG, the accountants and management consultants have been appointed as advisers to the Government. The city investment bank Rothschilds, is advising BNFL. All advisory work is currently in the early stages and no decision as to whether or not to sell have as yet been taken. The nuclear company controls the UK's Sellafield reprocessor as well as the Magnox reactors which are responsible for producing 8% of the country's electricity.

Comment:

State-owned nuclear fuel reprocessing co is likely to be privatized by UK govt

Nuclear Energy Products, All Other Basic Inorganic Chemical Manufacturing, British Nuclear Fuels PLC

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Billiton pulls out of bid for CVG

Article Abstract:

The UK-based international mining group Billiton, has declared that it is no longer to place a bid for CVG, Venezuela's aluminium complex. The reason for the decision is being attributed to the state of the world economy and the worldwide financial markets. Billiton was the only consortium to qualify to bid for CVG, which the Venezuelan government is attempting to privatise again. The global economic situation has resulted in a lack of funds available for such opportunities and is hindering investment possibilities. The decision by Billiton is a major blow to Venezuela, as it was hoping that the privatisation of CVG would help put economic reforms in line.

Comment:

Declares that it is no longer to place a bid for CVG, Venezuela's aluminium complex, Venezuela

Acquisitions & mergers, Foreign operations, Aluminum, Primary Aluminum Production, Mining & Extractive Industries, Mining, Venezuela, Aluminum industry, Aluminum products, BHP Billiton PLC, Corporacion Venezolana de Guayana

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