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- Silex System’s (SLX) has received U.S. government approval to proceed with the acquisition of GE-Hitachi and the overall restructuring of its licensee, GLE
- Silex made a play for GE-Hitachi Nuclear Energy and Cameco Corporation for the restructure of Silex’s licensee, Global Laser Enrichment (GLE) back in 2019
- Approval from the Committee on Foreign Investment in the United States or CIFUS, was required to complete the restructure to ensure no national security concerns could arise as a result of the transaction
- Now all key U.S. approvals have been granted, the joint deal is one step closer to being finalised, with remaining conditions under the arrangement expected to be wrapped up in the next few weeks
- SLX shares are off 4.38 per cent following the announcement, trading at $1.53 each
Silex System’s (SLX) has received U.S. government approval to proceed with the acquisition of GE-Hitachi and the overall restructuring of its licensee, GLE.
Silex made a play for GE-Hitachi Nuclear Energy and Cameco Corporation in a bid to restructure Silex’s licensee, Global Laser Enrichment (GLE), back in 2019.
Approval from the Committee on Foreign Investment in the United States (CIFUS), was required to complete the restructure to ensure no national security concerns could arise as a result of the transaction.
Full approval has now been granted from the U.S. Department of the Treasury CIFUS, meaning all key U.S. approvals have now been received.
Under the restructure, Silex is set to acquire a 51 per cent stake in GLE and uranium and nuclear fuel supplier Cameco, increasing its interest from 24 per cent to 49 per cent.
SLX updated investors on January 8 that GLE had received notice from the U.S. Nuclear Regulatory Commission (NRC) that it would be granted a standalone facility clearance, enabling GLE to continue to operate under new ownership as a foreign-owned entity.
According to Silex, final remaining conditions and other transition arrangements should be wrapped up in the next few weeks.
SLX shares are off 4.38 per cent following the announcement, trading at $1.53 each at 12:55 pm AEDT.
