Funds relied on by pensioners from Seoul to Salford are in advanced talks to buy a minority stake in Britain’s ageing fleet of nuclear reactors. A trio of infrastructure funds are in discussions to pay about £1.2bn for a 20% stake in the plants, which include Sizewell B in Suffolk and Dungeness B in Kent, Sky News reported. Dalmore Capital, which is backed by Korean pension fund cash, has teamed up with Equitix and GLIL Infrastructure to bid for the business formerly known as British Energy. GLIL manages local authority pensions for Manchester, London, Merseyside and Berkshire. Current owners EDF and Centrica would be left owning 70% and 10% respectively. Both are believed to be interested in selling more and Centrica has signalled a willingness to get out of the business entirely. Its shares have fallen nearly 70% since Iain Conn took over in 2015. EDF is believed to be keen to retain a majority stake.
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