Westinghouse: Toshiba and Engie

westinghouse: The AP-1000 models are designed by Westinghouse, which filed for bankruptcy protection last week, according to The Japan Times. Engie in December said it was studying the economic viability of its nuclear projects, especially in Britain, following news reports suggesting it wanted to withdraw from them. NuGen plans to build three reactors at the Moorside site near Sellafield in Cumbria, northwest England. Toshiba said Westinghouse's bankruptcy filing entitles Engie to either sell all of its stake in NuGen to Toshiba, which currently holds the remaining 60 percent, or to acquire all of Toshiba's shares. Toshiba has previously warned it was facing a writedown exceeding 700 billion 6.3 billion at Westinghouse. Engie has accordingly exercised its rights to require Toshiba to buy its holding, the company said in a statement. (news.financializer.com). As reported in the news.