ML20248A835

Advises That NRC Has Completed Final Conditional Foreign Ownership,Control or Influence Review of Us Enrichment Corp Initial Public Offering of Stock Package for Privatization

ML20248A835
Person / Time
Site:	Portsmouth Gaseous Diffusion Plant, 07007001
Issue date:	05/22/1998
From:	Halman E NRC OFFICE OF ADMINISTRATION (ADM)
To:	John Miller UNITED STATES ENRICHMENT CORP. (USEC)
References
NUDOCS 9806010054
Download: ML20248A835 (2)

Text

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. . Mr. J;mes H. Miller

' Vice President, Production I United States Enrichment Corporatica Two Democracy Center i 6903,Rockledge Drive .

Bethesda, Maryland 20817

SUBJECT:

FINAL CONDITIONAL FOREIGN OWNERSHIP, CONTROL OR INFLUENCE APPROVAL FOR THE UNITED STATES ENRICHMENT CORPORATION'S INITIAL PUBLIC OFFERING OF STOCK SALE PROCESS

Dear Mr. Miller:

j This letter is to advise you that the Nuclear Regulatory Commission (NRC) has completed its final conditional Foreign Ownership, Control or IrSuence (FOCl) review of the United States Enrichment Corporation's (USEC) Initial Public Offering (IPO) of stock package for privatization.

Our finding indicates that based on the information submitted by USEC on May 1,1998, and supplemented on May 12,1998, there are no FOCl concems at this time. Therefore, in accordance with the FOCl review process agreed to by the NRC and USEC, the NRC hereby grants a final conditional FOCl approval of USEC's IPO sale process.

Please note that this approval was made in consultation with the Department of Energy and is conditional upc.n (1) Mr. Richard Kingdon (a key management official who is not a citizen of the United States) being formally excluded from access to classified information by a Board of Directors' resolution, (2) the implementation of the draft certificate of incorporation and the draft by-laws, and (3) appointment of the Owners, Officers, Directors and Executive Personnel ,

(OODEP), as provided in your May 1,1998, IPO FOCl submission. It is also conditional upon  !

l the implementation of the procedures described in those documents. The executed certificate of incorporation, by-laws, and OODEP listings will need to be reviewed by the NRC to ensure that the applicable clauses were included and not significantly modified from the draft version.

If the executed certificate of incorporation or by-laws have been changed, or if the procedures identified in those documents are not being followed, a new FOCl determination will be required.

If you have any questions, please contact Richard A. Dopp or J. Keith Everly of my staff on i l (301) 415-7402 or (301) 415-7048, respectively.

Sincerely, k'agansk sammadDr 9906010054 990522- Edward L. Halman, Director $l PDR ADOCK 07007001 /9 '

c- PDR Office of Administration

• Letter was reviewed and discussed w/Com-Docket Nos. 70-7001 and 70-002 missioners' Assistants (Boyle/Lubenau/

cc: E. J. McCallum, DOE D. Scott, USEC Lopez-Otin and Schlueter/Crockett) on 5/21. ,

G. P. Rifakes, USEC J. G. Adams, USEC All agreed the letter can be sent. j DOCUMElJT NAME: IPOFOCl To receive a copy of this document, indicate in the box: "C" = Copy without attachment / enclosure "E" = Copy with attachment / enclosure "N" = No copy _

OFFICE INFOSECJ)){ l/V INFOSEC f hf(l Af NMSS g l AD/DM l D/tdMV NAME JKEvertyV Silvious' EQTen$Yek RADc3d El)Mrfialb.

DATE 05AtI/98 '054//98 06/4/98 g masamammmmmme um num um sammmmmunen um=

NAME PGA DATE 05/ 198 N 3 OFFICIAL RECORD COPY a_ _ _

I Distribution? Letter to James H. Miller. Dated Mav 22. 199_8 DISTRIBUTION:

MC: None DCF: FAC 5.09.25-1 A P. G. Norry, DEDM E. L. Halman, D/ADM C. J. Paperiello, D/NMSS E. Q. Ten Eyck, NMSS R. C. Pierson, NMSS T. E. Wenck, NMSS D. F. Hassell, OGC S. A. Treby, OGC K. L. Winsberg, OGC R. A. Dopp, AD/DFS A. L. Silvious,INFOSEC -

J. K. Everly, INFOSEC DEDM R/F ADM R/F DFS R/F INFOSEC R/F NRC Public Document Room Docket Files 70-7001 and 70-7002 l

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