Toshiba in talks to sell Westinghouse nuclear unit

Toshiba Corp. (NASDAQ: TOSBF) is currently in talks with three unnamed parties as it seeks to sell up to 16 percent of its stake in the Westinghouse Electric Co. nuclear power unit, the Wall Street Journal reports. The conglomerate is mulling three “very good offers,” Toshiba President Norio Sasaki said, and remains optimistic about its nuclear reactor business despite uncertainty about the future of nuclear power in Japan in the wake of Fukushima. Toshiba paid about $4.2 billion for 77 percent of Westinghouse six years ago and has since sold 10 percent of the company to Kazakhstan’s state-owned NAC Kazatomprom JSC. Toshiba will retain at least 51 percent ownership of the company, said Mr. Sasaki.

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