Tokyo Electric Power, Toshiba and Japan Bank for International Cooperation to Acquire 19.95% Equity Interest in Uranium One of Canada
- Establishment of Long Term Strategic Alliance with Strategic Relationship Agreement and Uranium Offtake Agreement -
The Tokyo Electric Power Company, Incorporated (TEPCO) (TOKYO:9501), Toshiba Corporation (Toshiba) (TOKYO:6502), and the Japan Bank for International Cooperation (JBIC), the international wing of the Japan Finance Corporation, today announced a joint investment in Uranium One Inc. (U1) (UUU.TO), a major, Canadian-listed producer and marketer of uranium. TEPCO, Toshiba and JBIC have agreed to subscribe to a new share issue of 117 million shares in U1, at a price of Cdn$2.30 per share, equal to approximately Cdn$270 million (about 20.2 billion yen(1)) in total. Concurrently, TEPCO, Toshiba and JBIC have also signed a strategic relationship agreement (SRA) with U1, and a Uranium Offtake Agreement.
- Published: 10 February 2009
- Written by Editor