Toshiba Corp. has announced its acquisition of BNFL USA Group Inc. and Westinghouse UK Ltd (collectively Westinghouse), following completion of the final arrangements with British Nuclear Fuels Ltd on 16 October 2006, US Eastern Standard Time. Westinghouse Electric Co. is now a Toshiba Corp. consolidated group company. Toshiba established two holding companies in the US and the UK., Toshiba Nuclear Energy Holdings (US) Inc. and Toshiba Nuclear Energy Holdings (UK) Ltd, to carry out the acquisition. Through these holding companies, Toshiba has invested USD 4,158 million dollars in acquiring a 77% share of Westinghouse, giving Toshiba management control of the company. The remaining 23% is held by two strategic partner companies: the Shaw Group Inc. of the USA invested USD 1,080 million dollars in a 20% stake, while Japan’s Ishikawajima-Harima Heavy Industries Co. Ltd invested USD 162 million dollars in a 3% stake. Following the acquisition, Westinghouse will retain its operating autonomy and remain headquartered in Pennsylvania, USA.