Japanese electronics giant Toshiba Corp. said Monday its US power plant maker Westinghouse had agreed to buy IST Nuclear of South Africa for an undisclosed amount.
Toshiba said in a statement the acquisition was expected to be completed in August.
The South African firm, a leading provider of services and systems for pebble bed modular reactors, would be renamed Westinghouse Electric South Africa, Toshiba said.
The purchase is aimed at meeting growing demand for nuclear reactor
construction in the African country, it said.
Last year, Toshiba invested 4.158 billion dollars to take a 77 percent equity interest in Westinghouse.