UKAEA sale

The

has announced that it intends to sell

, a provider of nuclear decommissioning, waste management and site environmental remediation services in Britain and abroad.

Government-owned UK Atomic Energy Authority is seeking a buyer for up to 100 per cent of the issued share capital of UKAEA Limited.

According to a statement issued by the Department for Business, Enterprise and Regulatory Reform (BERR), the government has not ruled out retaining a stake in UKAEA Limited, which is now regarded as able to operate and expand independently.

Lady Judge, chairman of the UK Atomic Energy Authority, said: ‘We believe that the UK and international nuclear decommissioning markets represent an exciting opportunity for UKAEA Limited to build a larger and more broadly based nuclear services company, based on UKAEA Limited's core skills, track record and brand.

‘The proposed sale will provide UKAEA Limited with a new ownership structure to help deliver its strategic plans and greater commercial focus on its operations.’

The global civil nuclear market is estimated to be worth £300bn in the period 2005-2035. UKAEA Limited and its parent have already decommissioned and dismantled 15 reactors and 40 radioactive facilities.