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SPIC: Still Evaluating Westinghouse’s Bankruptcy

Well-known Chinese news site Sina recently reported that the Chairman of China’s State Power Investment Corporation (SPIC) visited Japan and had a discussion with its parent company Toshiba about the future of Westinghouse. He told the media that SPIC was still evaluating Westinghouse’s ownership structure. SPIC has not yet made a decision on whether to acquire it. China’s third generation nuclear power plants use Westinghouse’s AP1000 nuclear technology. Based on U.S. media reports, the Trump administration has been very much concerned about the potential possibility of Chinese capital acquiring Westinghouse. Westinghouse, with its 130 years’ history, is widely recognized in the world as the original inventor of nuclear power generation. SPIC paid a lot of attention to Westinghouse’s bankruptcy before it was even filed. SPIC said the restructure of Westinghouse should not concern the U.S. government, since it has already been sold several times previously. However, sources revealed that the U.S. Secretary of Energy Rick Perry has taken actions to seek the elimination of any Chinese connection among the potential buyers. Westinghouse owns a large number of military technologies as well.

Source: Sina, April 8, 2017
http://finance.sina.com.cn/roll/2017-04-08/doc-ifyecezv2467689.shtml

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