Date Closed

November 7, 2023

Lead Office

Toronto

Value

7.90 Billion USD

On November 7, 2023, Cameco Corporation (“Cameco”) and Brookfield Renewable Partners (“Brookfield Renewable”) completed their acquisition of Westinghouse Electric Company (“Westinghouse”), one of the world’s largest nuclear services businesses, from Brookfield Business Partners in a deal valued at US$7.9 billion. Brookfield Renewable, with its institutional partners, now owns 51% interest in Westinghouse and Cameco owns the remaining 49%.

Cameco, based in Saskatoon, Canada, is one of the world’s largest providers of the uranium needed to generate clean, reliable baseload electricity around the globe.

Brookfield Renewable, based in Toronto, Canada, owns and operates renewable power assets.

Westinghouse, based in Cranberry Township, United States, is an international nuclear energy company.

McCarthy Tétrault advised Cameco with a team led by David Lever that included David Woollcombe, Matthew Cumming, Andrew Parker, Maureen Gillis, Suzie Cusson, Firuz Rahimi, Mitchell Lui, Lama Kahiel, Shaun Khullar, Samantha Pettinato, Liam Sako, Victoria Zed, Jonathan Leung (Business), Gordon Baird (Financial Services), Stefanie Morand, Patrick McCay, Kabir Jamal, Dean Xiao (Tax), Oliver J. Borgers, Gideon Kwinter (Competition), John W. Boscariol, Gajan Sathananthan (Trade), Vincent Yip (Intellectual Property), Ben T. Aberant, Nicole Naglie (Labour and Employment), Kelleher Lynch, Julia Miller (Pensions), and Sarit Pandya (Real Property and Planning).