It said the contract was signed on March 18. The object of the transaction consists only of assets (land, buildings, special constructions, installations, machinery and equipment).
Following a due diligence analysis, Nuclearelectrica has identified the necessary assets that it will strategically integrate into the structure and will thus integrate the cycle of manufacture of CANDU nuclear fuel, except for mining activity.
The strategic decision to acquire part of Feldioara’s assets necessary for the processing of the raw material aims to ensure integrated production capabilities at the level of Nuclearelectrica and, to an equal extent, to ensure the production of fuel bundles and the optimal operation of its nuclear fuel factory in Pitesti and nuclear power plant in Cernavoda. Nuclearelectrica is looking to expand the capacity of the nuclear power plant and maintain the nuclear fuel cycle at national level at an advantageous transaction cost.
The completion of the acquisition of assets is subject to preconditions deal with the transmission and issuance by the competent authorities of the necessary transfer authorizations, permits and opinions as well as clarification by the National Uranium Company of certain aspects related to the insurance of the transfer of assets.
Nuclearelectrica is 82.5% state-owned.