Cameco and Brookfield Renewable Partners to buy Westinghouse Electric Co. in $7.88 billion deal

Cameco Corp.
CCJ,
+1.69%
and Brookfield Renewable Partners
BEP,
-0.10%,
along with institutional partners, are planning to buy Westinghouse Electric Co.

The companies said Tuesday that they are forming a strategic partnership to acquire the nuclear services business. Brookfield Renewable, with its institutional partners, will own a 51% interest in Westinghouse and Cameco will own 49%, they said.