Cameco, Brookfield Renewable to Purchase Nuclear Equipment Provider Westinghouse

October 13, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--As a large portion of the world seeks to rein in emissions generated by the power industry, nuclear power as a possibility for potential emissions-free baseload power is gaining ground. Two firms are seeking to capitalize on this renewed interest by agreeing to purchase nuclear equipment manufacturer Westinghouse Electric Company (Cranberry Township, Pennsylvania).

Uranium miner Cameco Corporation (NYSE:CCJ) (Saskatoon, Saskatchewan) and Brookfield Renewable Partners LP (NYSE:BEP) (Toronto, Ontario) have agreed to pay $7.9 billion for the company, including debt, giving Westinghouse a $4.5 billion equity value. Cameco will take a 49% stake, while Brookfield will have 51%.