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Toshiba finds buyer for Westinghouse

January 5, 2018

The OEM has finally found a buyer for its defunct nuclear plant, Westinghouse, which it bought back in 2006.

A Canadian investment firm is proposing to purchase Westinghouse Electric, Toshiba’s bankrupt nuclear plant. The OEM decided to sell Westinghouse last year, after the plant incurred “massive losses” due to “rising costs and other factors”, as NHK World reports.

Officials from Brookfield Business Partners have revealed that they will acquire Westinghouse for a sum of $4.6 billion (€3.816 billion), although the deal “still needs approval from US regulators” as well as the bankruptcy court.

They commented that the nuclear plant “is a leader in its field”, with an established customer base, while Westinghouse explained that this purchase “will benefit its customers and employees.”

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