The £50m sale of the commercial arm of the UK Atomic Energy Authority (UKAEA) to Babcock International is complete.

The sale is the first transaction under the government’s Operational Efficiency Programme, launched last year.

The sale was completed on 31 October and followed the announcement of 30 March 2009 that UK Atomic Energy Authority was seeking a buyer for UKAEA Limited.

It is hoped that the sale of the business will help to reinforce the UK’s nuclear industry and provide a platform for the further development of skills in the marketplace.

Business Secretary Lord Mandelson said: “This is a win, win, win result. It gives UKAEA a strong partner, generates good value for the tax payer and allows the Nuclear Decommissioning Authority to enjoy a broader array of nuclear decommissioning expertise.”