Skip to main content

Britain’s competition regulator said on Wednesday it was investigating Cameco Corp CCO-T and Brookfield Renewable Partners’ BEP-UN-T $7.9-billion deal to acquire nuclear power plant equipment maker Westinghouse Electric.

The Competition and Markets Authority (CMA) said it had invited comments on the deal from interested parties. It did not give any further details.

The deal was announced in October last year on the heels of an uptick in interest in nuclear power amid an energy crisis in Europe and soaring crude oil and natural gas prices.

“This is part of the standard regulatory approval process for transactions of this nature,” Cameco said in an email to Reuters.

The company added that it expected the deal to close before the end of the year.

Westinghouse did not immediately respond to a request for comment, while Brookfield Renewable Partners declined to comment.

Cameco will own 49 per cent of Westinghouse, while Brookfield Renewable and its institutional partners will own the rest, the companies have said.

Report an error

Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 04/03/24 9:37am EST.

SymbolName% changeLast
CCO-T
Cameco Corp
+0.93%57.44
CCJ-N
Cameco Corp
+1%42.39

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe