UK nuclear generator fends off bankruptcy

British energy, the UK's nuclear power generator, has successfully fended off the administrators after securing a refinancing package worth UK£1.3bn (€1.86bn). The government told the firm it could keep a UK£200m state credit line but the industry ministry cautioned that the government remained prepared for administration should restructuring conditions not be met. The rescue package still depends on clearance by the European Commission, which announced in July that it was formally investigating the legality of the state aid British Energy enjoys. UK industry ministry press release.

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