Toshiba Sells 10% of Westinghouse to Kazatomprom

Kazakh state's Kasatomprom ponied up $540 million to Japan's Toshiba Corporation to buy 10% of Westinghouse Electric Company.

Toshiba will retain a two-thirds stake and Kazatomprom will be a minority investor.

As part of the deal, Kazatomprom will supply uranium and nuclear fuel to Westinghouse…but nobody is saying, how much.

 "The alliance of Toshiba, Kazatomprom and Westinghouse will contribute not only to the promotion of collaboration in the nuclear energy area among the three countries, but also to the expansion of nuclear power generation on a global basis to combat global warming," Kazatomprom and Toshiba said.

Kazatomprom is the third-largest uranium producer in the world with dreams of becoming number one by 2010. 

All of us will do better to have enough reliable and properly managed nuclear power I think.