Business secretary says acquisition will allow agency to ‘take advantage of new opportunities in the nuclear industry’
Support services firm Babcock International is to buy the commercial arm of the UK’s Atomic Energy Agency for £50m, the government has announced.
Business secretary Peter Mandelson said the sale of UKAEA would allow it to “continue its development and take advantage of new opportunities in the nuclear industry”.
The government announced its intention to sell off the body earlier this year and today said Babcock would take 100% ownership of the firm.
UKAEA handles decommissioning work at sites in Scotland, Dorset and Oxfordshire and employs 230 people.