Magnox Ltd employs 3,500 people in the UK across 10 nuclear licensed sites. The management contract is presently being competed by the NDA along with two RSRL sites (Research Sites Restoration Ltd).

National Secretary Mike Graham said: “Prospect welcomes the sale because it ends the uncertainty over the management of the Magnox Sites. Hopefully the injection of cash will allow the existing business to grow and take advantage of the global nuclear decommissioning market.

“However we do have concerns at the sale to what is a venture capital company. We are seeking assurances that they are either in the nuclear business for the long term, or will sell the business in a better shape than they bought it.”

UK Magnox sites are at: Berkeley, Bradwell, Chapelcross, Dungeness, Hinkley Point, Hunterston, Oldbury, Sizewell, Trawsfynydd and Wylfa.