Romania: Nuclearelectrica plans to acquire National Uranium Company

The operator of the country’s sole nuclear power plant Cernavoda, electricity producer Nuclearelectrica is seeking the approval from its shareholders for the takeover of assets of the National Uranium Company (CNU). CNU has been recently subject to repeated insolvency requests due to its poor financial situation. Nuclearelectrica will purchase the assets from CNU through direct negotiations. The price envisaged for the uranium processing line located in Feldioara is reportedly 9 million euros.

Last February, Euratom opposed Nuclearelectrica’s intention to buy refined uranium from CNU because the price was 50 % above that charged by a Canadian supplier (which would be deemed as state aid). Last year, the shareholders of Nuclearelectrica approved the launch of procedures for the purchase of uranium concentrate processing plant in Feldioara owned by the National Uranium Company (CNU). The main shareholders are the Ministry of Energy, which owns 82.49 % of the shares, and Fondul Proprietatea with 7.05 % stake.

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