Toshiba Corp. agreed to sell 10% of Westinghouse Electric Co. for $540 million to Kazatomprom

Japan's Toshiba Corp. sold a 10 percent stake in U.S. nuclear power plant builder Westinghouse to Kazakh uranium producer Kazatomprom for $540 million on Monday.The deal underscores the Central Asian state's growing clout. Japan generates 25 percent of its electricity from nuclear power and has been courting Kazakhstan as a uranium supplier."Through this deal Kazatomprom plans to enter new markets for its products," the companies said in a joint statement. "Toshiba aims to enhance its global nuclear power business."The shares are expected to be transferred to state-owned Kazatomprom in about a month, the companies said, but the deal is also subject to approval by U.S. and Japanese regulators.