Cameco and Brookfield Renewable Form Strategic Partnership to Acquire Westinghouse Electric Company
SASKATOON, Saskatchewan and TORONTO, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Cameco Corporation (“Cameco”) (NYSE: CCJ; TSX: CCO) and Brookfield Renewable Partners (“Brookfield Renewable”) (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC), together with its institutional partners (“the consortium”), are forming a strategic partnership to acquire Westinghouse Electric Company (“Westinghouse”), one of the world’s largest nuclear services businesses.
- SASKATOON, Saskatchewan and TORONTO, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Cameco Corporation (Cameco) (NYSE: CCJ; TSX: CCO) and Brookfield Renewable Partners (Brookfield Renewable) (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC), together with its institutional partners (the consortium), are forming a strategic partnership to acquire Westinghouse Electric Company (Westinghouse), one of the worlds largest nuclear services businesses.
- Cameco currently has available liquidity and committed financing facilities for the purposes of supporting the transaction to acquire a 49% share in Westinghouse.
- Compelling partnership opportunity: Cameco and Brookfield Renewable are well placed to build a global player in the clean-energy transition.
- Cameco and Brookfield Renewable will bring a compelling combination of strategic and operational expertise to Westinghouse, a business which represents a strong fit with the mandate of the Brookfield Global Transition Fund.