Brookfield Asset Management, in partnership with Cameco, has acquired a 51% stake in Westinghouse Electric Company to enhance their positions in the evolving nuclear energy sector.

Target Information

The target of this acquisition is Westinghouse Electric Company, a leading entity in the nuclear energy sector. In 2023, Brookfield Asset Management partnered with uranium mining firm Cameco to acquire a controlling stake in Westinghouse. Brookfield, leveraging its expertise and resources, secured a 51 percent ownership of Westinghouse, while Cameco retained the remaining 49 percent. This strategic partnership signifies a commitment to advancing nuclear energy technology and infrastructure.

Westinghouse is widely recognized for its innovations in nuclear reactor technology and is instrumental in the development of solutions such as small modular reactors. The company plays a pivotal role in the nuclear power sector, which is experiencing renewed interest globally in light of the urgent need for clean energy alternatives.

Industry Overview

The nuclear energy industry in Canada is experiencing a resurgence, particularly as the government invests heavily to augment its role in the clean energy transition. Federal investments, reaching hundreds of millions of dollars, reflect a strategic