UK’s Centrica launches rights issue to fund British Energy stake purchase

Centrica has announced a fully underwritten rights issue of 1,392,545,298 New Shares at a price of 160 pence per New Share on the basis of 3 New Shares for every 8 Existing Shares held on the record date of 14 November 2008 (the “Rights Issue”).

31 October 2008 — Areva said the U.S. Department of Energy has awarded a contract to USA Repository Services LLC, a unit of URS Corp. that includes Areva and the Shaw Group, to manage the used nuclear fuel repository project at Yucca Mountain, Nev. The five-year contract, which has an optional five-year renewal, is valued at $2.5 billion.

The USA Repository Services partnership will have several responsibilities, including completing the detailed design of the repository and addressing questions on the license application submitted to the Nuclear Regulatory Commission earlier this year.

The contract also stipulates that USA Repository Services will operate the existing Yucca Mountain facilities before construction authorization and support management of construction and operation activities.