Daily Management Review

Cameco and Brookfield Renewable buy U.S. Westinghouse for $7.9B


Westinghouse Electric, one of the biggest nuclear power businesses in the world and the United States, will be acquired by a group of Canadian firms Cameco and Brookfield Renewable, according to a deal announced yesterday night.

Cameco and Brookfield Renewable buy U.S. Westinghouse for $7.9B
The deal has a $7.875 billion value. Brookfield Renewable will receive 51%, and Cameco - 49%.

Brookfield Renewable is one of the top operators of renewable energy in the world. The corporation owns and manages hydroelectric, wind, and solar generating plants in North and South America, Europe, and Asia.

Cameco mining firm is one of the biggest manufacturers of uranium fuel in the world.

2017 saw the bankruptcy of Westinghouse, which was the result of numerous errors made by the previous leadership. According to analysts, the purchase of Westinghouse by the group that includes a significant provider of renewable energy could raise interest among investors and other businesses in nuclear energy.

This is especially important in the current climate of escalating hydrocarbon energy source prices and an ongoing global lack of renewable energy.

source: bloomberg.com