URENCO Company Links

(last updated 26 Apr 2013)

Urenco Ltd, UK

Shareholders of Urenco Ltd

UK Government    Dutch Government   Shell, DSM    RWE AG     E.ON AG 
      |                |            Philips,        | 100%      |
      | 100%           | 98.9%      VMF-STORK       |           |
      |                |                | 1.1%    NUKEM         |
      |                |                |          GmbH        |
      |                |                |           | 50%       | 50%
    BNFL              ------------------           -------------
      | 100%                   |                         |
      |                        |                         |
    INFL         Ultracentrifuge Nederland BV       Uranit GmbH
      |                        | 33%                     |
      |  33%                   |                         | 33%
      -----------------------  |  ------------------------
                            |  |  |
                           URENCO LTD

UK ready to sell its share of uranium enrichment firm Urenco: The British government said on Monday (Apr. 22) it would sell some or all of its 33 percent stake in Urenco, the world's second-largest vendor of nuclear fuel. Three countries hold equal stakes in the security-sensitive uranium enrichment concern - Britain, the Netherlands and Germany, whose share is held by utilities E.ON and RWE. Urenco is estimated to be worth up to 10 billion euros ($13 billion) and several buyers have been reported to be ready to bid for a stake. These include French nuclear group Areva, Canadian uranium miner Cameco Corp, reactor builder Westinghouse's Japanese parent Toshiba, and the Canada Pension Plan Investment Board. "The decision to proceed towards a sale comes after the government secured agreement from its Dutch and German partners," Britain's business ministry said in a statement. (Reuters Apr. 22, 2013)
However, on Apr. 24, 2013, Dutch Minister of Economics H.G.J. Kamp declared that the Dutch government hasn't given its consent yet.
> Download: Kamerbrief mogelijke verkoop van de URENCO aandelen, Apr. 24, 2013 (in Dutch)

Toshiba reportedly plotting bid for Urenco: One of Japan's biggest industrial companies is weighing a bid for Urenco, the nuclear fuel producer backed by the British government. Toshiba, which owns the nuclear reactor builder Westinghouse Electric, hopes to head off a pack of bidders for the business, which enriches uranium for nuclear fuel. (The Sunday Times Jan. 20, 2013)

Dutch government, too, considers sale of its stake in Urenco now: The Dutch government has appointed Credit Suisse to advise on a potential sale of its stake in UK-based uranium-enrichment company Urenco, the Financial Times reported on Thursday (Jan. 5). (Reuters Jan. 6, 2012)
The new Dutch government picked ABN Amro to advise on the future of its 33 percent stake in UK-based uranium enrichment company Urenco, three people familiar with the situation told Reuters on Friday (Dec. 7). The previous government had hired Credit Suisse to examine its strategy regarding Urenco's ownership, but this mandate was not renewed. (Reuters Dec. 7, 2012)

Areva eyes stake in uranium enricher Urenco - paper: French nuclear group Areva is eyeing a stake in UK-based uranium enrichment company Urenco, a Dutch paper reported on Thursday (Jan. 5), citing people familiar with the matter. Areva has asked bank Nomura to look into acquiring a stake, while German utilities RWE and E.ON, which together own 33 percent of Urenco, have asked Merrill Lynch to seek a buyer of their stake, daily Het Financieele Dagblad said. Britain and the Netherlands also hold a third each of Urenco, and the British government has been looking into a sale of its stake since 2009. (Reuters Jan. 5, 2012)
French nuclear group Areva on Wednesday (Jan. 11) denied having any plans to buy a stake in Urenco for the time being, reacting to media reports flagging its interest in the UK-based uranium enrichment company. (Reuters Jan. 11, 2012)
But, on Oct. 14, 2012, the rumours of an imminent French offer for Urenco surfaced again in the Sunday Times.

E.ON, too, planning to sell stake in Urenco - Report: German utility company E.ON AG is planning to sell its stake in uranium enrichment company Urenco, which it owns jointly with competitor RWE AG, German daily Handelsblatt reports Wednesday (Sep. 7), citing unnamed sources. The U.K. government and the Dutch government each own one-third of Urenco, with RWE and E.ON splitting the remainder. (Dow Jones Sep. 7, 2011)

RWE considers sale of its stake in uranium enricher Urenco: German energy giant RWE has appointed advisers for a strategic review of Urenco. Any disposal needs the consent of the other shareholders and the tripartite committee. In the UK, this means satisfying national security concerns over nuclear enrichment. (Sunday Telegraph Sep. 3, 2011)

Netherlands wants the UK to retain its stake in Urenco: The Netherlands, one of Urenco Ltd.'s shareholders, wants the U.K. to retain its stake in the uranium enrichment company, Het Financieele Dagblad said today, citing an unidentified person at the Dutch Finance Ministry. (Bloomberg July 20, 2011)

UK government plans to privatise Urenco: The UK Government has named Urenco as one of the companies earmarked for sale along with the Government's stake in British Energy. Urenco is jointly owned by the British, Dutch and German governments [should read: British and Dutch governments and German utilities]. The British government has been negotiating with its Dutch counterpart and is understood to have won its support for a flotation. With two thirds of the company's shareholders in favour of a float, the Government is believed to be confident it can also win German backing.
Privatising Urenco could be politically sensitive for all the governments involved because of concerns about nuclear technology passing to private ownership.
The Government has already received an approach by an unnamed north American company for its stake in Urenco barely 24 hours after Gordon Brown announced the planned divestment in the Budget. (Daily Telegraph March 24, 2006)

The UK government's plan to privatise Urenco via a 1.7 bln stg flotation is being blocked by the Dutch and German governments, the two other shareholders in the company, the Sunday Telegraph newspaper reported on June 26, 2005. (AFX June 6, 2005)

Head Office

Urenco Ltd.

> Download Annual Report 2005 (3.8MB PDF)

Subsidiaries of Urenco Ltd

• 100% - Urenco UK Ltd., United Kingdom
• 100% - Urenco Nederland BV, Almelo, The Netherlands
• 100% - Urenco Deutschland GmbH, Gronau, Germany
• 100% - Urenco USA (formerly Louisiana Energy Services)

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