Brief: Cameco And Brookfield Renewable Form Partnership To Acquire Westinghouse Electric

Brookfield Renewable

11/10/2022 22:31

Oct 11 (Reuters) - Cameco Corp  CCO.TO :
    * CAMECO AND BROOKFIELD RENEWABLE FORM STRATEGIC PARTNERSHIP
TO
ACQUIRE WESTINGHOUSE ELECTRIC COMPANY
    * CAMECO CORP - BROOKFIELD RENEWABLE, WITH ITS INSTITUTIONAL
PARTNERS, WILL OWN A 51% INTEREST IN WESTINGHOUSE AND CAMECO
WILL OWN 49%
    * CAMECO CORP - TOTAL ENTERPRISE VALUE FOR WESTINGHOUSE IS
$7.875
BILLION
    * CAMECO - EQUITY COST WILL BE SHARED PROPORTIONATELY
BETWEEN
BROOKFIELD AND ITS INSTITUTIONAL PARTNERS (ABOUT $2.3 BILLION)
AND CAMECO (ABOUT $2.2 BILLION)
    * CAMECO CORP - BROOKFIELD RENEWABLE EXPECTS TO INVEST
APPROXIMATELY $750 MILLION TO ACQUIRE AN APPROXIMATE 17%
INTEREST IN WESTINGHOUSE
    * CAMECO CORP - CURRENTLY HAS AVAILABLE LIQUIDITY AND
COMMITTED
FINANCING FACILITIES TO ACQUIRE A 49% SHARE IN WESTINGHOUSE
    * CAMECO CORP - WILL BE PURSUING A PERMANENT FINANCING MIX
OF
CAPITAL SOURCES
    * CAMECO CORP - WESTINGHOUSE'S EXISTING DEBT STRUCTURE WILL
REMAIN
IN PLACE, LEAVING ABOUT $4.5 BILLION EQUITY COST TO CONSORTIUM

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