Uranium money
Three Japanese companies are to make a substantial joint investment in Uranium One, a major Canadian producer and marketer of uranium.
Three Japanese companies will make a substantial joint investment in Uranium One, a major Canadian producer and marketer of uranium.
The Tokyo Electric Power Company (TEPCO), Toshiba and the Japan Bank for International Cooperation (JBIC) have agreed to subscribe to a new share issue in the company for about £150m.
The full share issue will be taken up by Japan Uranium Management Incorporated (JUMI), a special purpose entity established by the three Japanese companies in
Once JUMI completes the transaction, JUMI will have a holding of about 19.95 per cent in Uranium One.
TEPCO and Toshiba will each hold 40 per cent of JUMI's shares and JBIC will hold 20 per cent.
Uranium One has also entered into a long-term offtake agreement and a strategic relationship agreement with the Japanese consortium, both of which will become effective upon closing of the private placement.
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