Cameco Corp, Brookfield Renewable Partners to buy Westinghouse in $7.9-bln deal (updated)

Brookfield Renewable Partners LP

11/10/2022 22:28

(Adds details)
       Oct 11 (Reuters) - Cameco Corp  CCO.TO  and Brookfield
Renewable Partners  BEP.N  will together buy nuclear power plant
equipment maker Westinghouse Electric Company in a $7.9-billion
deal, the companies said on Tuesday. 
     Brookfield Renewable, along with its institutional
partners, will own a 51% interest in Westinghouse while uranium
fuel supplier Cameco will own 49%.
    "The partnership of Brookfield and Cameco will help drive
forward the growth of nuclear power the world needs for its
clean energy transition,” Brookfield Vice Chair and Head of
Transition Investing Mark Carney said.     
    The deal is expected to close in the second half of 2023.
 (Reporting by Kannaki Deka in Bengaluru;
Editing by Vinay Dwivedi)
 ((Kannaki.Deka@thomsonreuters.com;))