Through this deal, which is touted as largest privatization, the government is looking to lower its debt.

The decision comes after its Urenco’s German owners – RWE and E.ON – decided to divest their ownership after the German government decided to phase out the nuclear sector.

Urenco is currently owned by the British and Dutch states and Germany’s two top utilities and it employs 1,400 people.

According to the Reuters, French nuclear company Areva is keen on acquiring stake in the uranium firm.

Areva Chief Executive Officer Luc Oursel was quoted as saying that the company would be interested if something were to happen in terms of Urenco’s capital.

Meanwhile, Canadian uranium producer Cameco is also expected to be a potential buyer, with speculations of Canada Pension Plan Investment Board and Japan’s Toshiba outlining plans to acquire the nuclear fuel producer.