GEAST UK Ltd is to gain control of the 2 businesses, these are the supply of turbines and related servicing for British nuclear submarines. The UK government has imposed measures for the acquisition, it has ordered that the companies must: meet physical and information security requirements; implement governance arrangements to protect sensitive information; place a UK government-appointed observer; establish a steering committee of the GEAST UK Ltd board and lastly the Secretary of State will have the power to intervene and control.
The UK added measures to mitigate national security concerns arising from EDF’s purchase of GE Steam Power Limited and GE Oil & Gas Marine and Industrial UK Limited
Type of event:
New business deal, Nuclear Policies
August 8, 2023