Our interest here is Cameco. A top five uranium miner,* the stock is down 15% on the news in today's action and looks tempting.
From Benzinga via Yahoo Finance, October 11:
A consortium of Cameco Corp (NYSE: CCJ) and Brookfield Renewable Partners LP (NYSE: BEP), together with its institutional partners, has agreed to acquire Westinghouse Electric Company from Brookfield Business Partners LP (NYSE: BBU).
Brookfield Renewable will own a 51% stake in Westinghouse, and Cameco will own 49%.
The total enterprise value of Westinghouse is $7.875 billion.
Westinghouse’s existing debt structure will remain in place, leaving an estimated $4.5 billion equity cost to the consortium. This equity cost will be shared proportionately between Brookfield and its institutional partners (approximately $2.3 billion) and Cameco (approximately $2.2 billion).
Cameco’s expertise in the nuclear industry with Brookfield Renewable’s expertise in clean energy makes nuclear power the center of the energy transition.
The deal is expected to create a powerful platform for strategic growth across the nuclear sector.
