The nuclear power company was initially based in Monroeville, but moved its headquarters to Cranberry Township in 2009. spun-off the Westinghouse Electric Corp., which merged with Viacom that year. This acquisition comes four years after Brookfield Business Partners, an affiliate of Canadian asset manager Brookfield, acquired Westinghouse from Toshiba for $4.6 billion. “We’re witnessing some of the best market fundamentals we’ve ever seen in the nuclear energy sector,” said Cameco President and CEO Tim Gitzel in a news release.Ĭompany leaders anticipate the acquisition will close late next year. “We are proud to join Brookfield Renewable and Cameco, reaffirming the important role played by Westinghouse and nuclear power in enabling the world’s clean energy transition and energy security goals,” Fragman said in a news release.Ĭameco, a Saskatchewan-based uranium mining company, will own a 49% interest in Westinghouse, while Brookfield Renewable, an Ontario-based renewable energy company, will own 51%.Ĭameco officials said they expect the acquisition will “create a powerful platform for strategic growth across the nuclear sector.” Westinghouse President and CEO Patrick Fragman said the acquisition begins an “exciting new chapter” for both Westinghouse and nuclear power. and Brookfield Renewable Partners formed a partnership to acquire the Cranberry Township-headquartered company, which is valued at $7.8 billion. Westinghouse Electric Company, one of the largest nuclear power companies in the world, will be acquired by a Canadian consortium.Ĭameco Corp.
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