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Peretz Partensky via Flickr CC

Private equity firms Apollo Global Management and The Blackstone Group are bidding on the business of Westinghouse Electric Co., the bankrupt U.S. nuclear power plant company that is currently owned by Japan's Toshiba Corp., as reported by Reuters and confirmed by Axios.

Bottom line: The buyer universe could be fairly limited. Many foreign financial sponsors or strategics — particularly from China — would have trouble passing U.S. regulatory muster, while the U.S. nuclear services space is so small that domestic rivals could face antitrust scrutiny.

Behind the deal: Westinghouse is the only U.S. company to receive U.S. building permits for new nuclear power plants since the Three Mile Island incident nearly four decades ago – even though cost overruns on those plants helped cause the Chapter 11 filing (and also led to Toshiba having to put its memory chips biz on the block). The Apollo and Blackstone bid would not include exposure to those still-unfinished facilities or their liabilities, instead focusing on a nuclear power plant services business that reportedly generates around $400 million in annual EBITDA.

Details: A sale could be valued at around $4 billion, with other private equity firms reported to be kicking the tires. PJT Partners is managing the process.

Connections: Apollo already is tied into this deal via a debtor-in-possession financing, while Blackstone owned a nuclear power plans more than a decade ago via its purchase of Texas Genco.

Go deeper

Updated 41 mins ago - World

U.S. threatens to cut aid to Sudan after military takeover

Sudanese Prime Minister Abdallah Hamdok during a 2020 news conference in Khartoum, Sudan. Photo: Mahmoud Hjaj/Anadolu Agency via Getty Images

Sudan's civilian Prime Minister Abdalla Hamdok was put under house arrest and several other ministers were detained Monday in what appears to be a military coup in the country, per local reports.

The latest: The head of the military faction of the Sudanese government, Gen. Abdul Fattah al-Burhan, said in a statement that he is announcing a state of emergency, suspending several parts of the interim constitution and dissolving the civilian government and interim sovereignty council — the highest governing body in the country.

Facebook's pivotal week

Illustration: Aïda Amer/Axios

They're battening down the hatches at Facebook headquarters this week as the company faces a trifecta of tumult: a continuing wave of negative press coverage fueled by document leaks, a critical earnings report Monday and a reported name change looming.

The big picture: All this is unfolding as Mark Zuckerberg tries to transform Facebook from a social network into the prime mover behind a new "metaverse" of VR- and AR-driven remote work and play.

3D-printed houses seem poised to go mainstream

A rendering of a planned 3D-printed, net-zero-energy community in Rancho Mirage, Calif. Photo: Mighty Buildings

3D-printed cement houses are about to take off, offering a cheaper, more efficient way to provide homes for those who need them — as long as they can be built in ways that don't worsen climate change.

Why it matters: Developers of 3D-printed homes think they can take on multiple challenges: the affordable housing crisis, the shortage of skilled labor and rising material costs.