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Canada's AECL Sale Hurt by New Brunswick's Contract With Areva, Globe Says
The Canadian government may be hampered in trying to sell Atomic Energy of Canada Ltd. because of a decision by the New Brunswick government to work with a competitor, the Globe and Mail reported.
New Brunswick dropped a proposal by Atomic Energy to build a new nuclear reactor because the Canadian crown corporation had failed to make progress on a plan to build the reactor and sell the power to New England, the newspaper said.
Instead, the province signed a letter of intent yesterday with Areva SA of France to build a so-called “energy park.”
The Canadian government is trying to sell Atomic Energy, and the bidding process closed on June 30, the Globe reported. Interested bidders may include SNC-Lavalin Group Inc. of Montreal and Westinghouse Electric Co. LLC, the paper said.
To contact the reporter on this story: Sean B. Pasternak in Toronto at spasternak@bloomberg.net.
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