BEIJING (Kyodo) Toshiba Corp. hopes to complete its acquisition of Westinghouse Electric Co., the U.S. atomic energy company, by the end of September, Toshiba President Atsutoshi Nishida said Wednesday in Beijing.
But the electronics giant still needs approval from U.S. and European Union authorities to purchase the nuclear power plant arm of British Nuclear Fuels PLC, Nishida said.
Asked when he expects all procedures to finish, Nishida said: “I don’t know. But I hope to have everything completed by around the end of September.”
Toshiba announced in February it agreed with the British firm to purchase Westinghouse. The deal is valued at $5.4 billion.
Nishida declined comment when asked about China’s negotiations with foreign companies over the construction of nuclear plants there.
But he acknowledged China remains an attractive market, saying, “In the area of nuclear power generation, China is the second-biggest market, following the United States.”
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