Canadian companies Cameco and Brookfield Renewable buy US Westinghouse for $7.9 billion
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Last night was announced about the deal, under which one of the largest nuclear energy companies in the US and the world, Westinghouse Electric, will be bought by a consortium of Canadian companies Cameco and Brookfield Renewable. The transaction amount is $7.875 billion. Brookfield Renewable will receive a 51% stake in Westinghouse, and Cameco – 49%.
Brookfield Renewable is one of the world’s leading renewable energy operators. The company owns and operates hydro, wind and solar power plants in North and South America, Europe and Asia. Cameco is a mining company and one of the world’s largest producers of uranium fuel.
In 2017, Westinghouse already went through bankruptcy proceedings, which led to a number of mistakes by the previous management. Analysts believethat the acquisition of Westinghouse by a consortium that includes a major renewable energy operator could increase the interest of investors and other companies in nuclear power. This is especially true in the current environment of rising prices for hydrocarbon energy sources and the continuing shortage of renewable energy at the global level.
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