• Kyodo

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Toshiba Corp. is considering dissolving its British nuclear subsidiary, NuGeneration Ltd., as negotiations for its sell-off have stalled, sources close to the matter said Friday.

The conglomerate is in the process of withdrawing from its overseas nuclear businesses after the bankruptcy of its U.S. subsidiary, Westinghouse Electric Co., in 2017.

Korea Electric Power Corp. was selected as the preferred bidder for the British nuclear subsidiary, but no agreement was reached before its preferred bidder status expired, the sources said.

Toshiba is also at odds over the terms of the unit’s sale with a Canadian asset management company that has shown interest in buying NuGeneration, they said.

NuGeneration plans to build a nuclear power plant with three reactors in Moorside, northwestern England. It was initially intending to use reactors manufactured by Westinghouse before the U.S. company went bankrupt.

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