Energy & Critical Metals
Cameco, Brookfield Renewable To Acquire Westinghouse Electric For US$4.5 Billion
Cameco (TSX: CCO) and Brookfield Renewable (TSX: BEP.UN) announced on Tuesday a consortium to acquire nuclear services firm Westinghouse Electric
The post…
Cameco (TSX: CCO) and Brookfield Renewable (TSX: BEP.UN) announced on Tuesday a consortium to acquire nuclear services firm Westinghouse Electric Company.
Brookfield Renewable and its institutional partners will control 51% of Westinghouse, while Cameco will own 49%.
Westinghouse has a total enterprise value of US$7.875 billion. The firm’s existing financing structure will be retained, leaving the consortium with an estimated US$4.5 billion equity cost. Brookfield and its institutional partners (about US$2.3 billion) and Cameco (roughly US$2.2 billion) will divide the equity cost equally.
While Brookfield is footing its share through the Brookfield Global Transition Fund I, Cameco said it intends to pursue a long-term capital-source mix (cash, debt and equity). It is expected that this will include the $650-million bought deal Cameco announced on the same day. The offering has a size of 29.6 million common shares priced at $21.95 per share.
On the same day as well, Cameco said it intends to announce their 2022 third-quarter results before the markets open on October 27. Uranium deliveries are anticipated to land in the range of 5 million to 5.5 million pounds for the fiscal quarter.
Westinghouse Electric claims to be shaping the future of carbon-free energy by offering safe nuclear technology to utilities throughout the world. In 1957, the firm supplied the world’s first commercial pressurized water reactor, and the company’s technology forms the foundation for roughly half of the world’s running nuclear reactors.
Cameco last traded at $35.62 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
The post Cameco, Brookfield Renewable To Acquire Westinghouse Electric For US$4.5 Billion appeared first on the deep dive.
Uranium Exploration Company Announces Additional Staking in the Athabasca Basin
Source: Streetwise Reports 12/22/2023
Skyharbour Resources Ltd. announced an update from its Canada-based Falcon Project along with additional…
Tesla Launches New Mega Factory Project In Shanghai, Designed To Manufacture 10,000 Megapacks Per Year
Tesla Launches New Mega Factory Project In Shanghai, Designed To Manufacture 10,000 Megapacks Per Year
Tesla has launched a new mega factory…
Giving thanks and taking stock after “a remarkable year”
An end-of-year thank you to our readers, industry colleagues and advertisers before Electric Autonomy breaks from publishing until Jan. 2
The post Giving…
