Cameco Corp and Brookfield Renewable Partners said on Tuesday they would acquire nuclear power plant equipment maker Westinghouse Electric in a $7.9-billion deal including debt, amid renewed interest in nuclear energy.
A Westinghouse Electric sign is seen during the China International Import Expo , at the National Exhibition and Convention Center in Shanghai, China November 6, 2018. REUTERS/Aly Song/Filesand Brookfield Renewable Partners said on Tuesday they would acquire nuclear power plant equipment maker Westinghouse Electric in a $7.9-billion deal including debt, amid renewed interest in nuclear energy.
The deal for one of the most storied names in the American power industry at an equity value of $4.5 billion comes at a time when nuclear power is seeing an uptick in interest amid anNuclear power is also key for countries to meet global net-zero carbon emission goals and could be on the"We’re witnessing some of the best market fundamentals we’ve ever seen in the nuclear energy sector," Uranium fuel supplier Cameco's chief executive, Tim Gitzel, said.
Cameco will own 49% of Westinghouse, while Brookfield Renewable and its institutional partners will own the rest.
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Cameco, Brookfield Renewable Partners to buy Westinghouse in $7.9 billion dealBrookfield Renewable and its institutional partners will own a 51% interest in Westinghouse while uranium fuel supplier Cameco will own 49%. nuclear
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