Status: Clearance


Acquirer: Cameco Corporation (Canada) & Brookfield Renewable Partners (Cayman Islands)

Acquired: Brookfield WEC Holdings Inc. (i.e.,Westinghouse Electric Company) (U.S.) 

Value: approximately $8 billion

Industry Tags: Energy


UPDATE: On May 5, 2023, Brookfield Business Partners announced it had “received approval from the Committee on Foreign Investment in the United States (CFIUS) for the sale of Westinghouse.” (Brookfield Business Partners, Form 6-K, May 5, 2023, SEC Filing.) The sale was completed on November 7, 2023. (Press Release, Brookfield Business Partners, Form 6-K, Ex-99.1, Nov. 7, 2023, SEC Filing.)


Posted on October 18, 2022

Status: Upcoming/New CFIUS Filing

On October 11, 2022, Brookfield Business Partners, “the listed business [(TSX, NYSE:BBU)] services and industrials company of Brookfield Asset Management Inc.,” (TSX, NYSE:BAM), a publicly traded Canadian based asset management company, “together with its institutional partners . . . announced an agreement to sell its nuclear technology services operation, Westinghouse Electric Company . . . ,  to a strategic consortium led by  Cameco Corporation and Brookfield Renewable Partners . . . for a total enterprise value of approximately $8 billion . . . including proceeds from the disposition of a non-core asset expected to be received prior to closing the transaction.” (Press Release, Brookfield Business Partners, Form 6-K, Ex-99.1, Oct. 11, 2022, SEC Filing). Under the terms of the agreement, CFIUS clearance is a condition to closing. (Equity Purchase Agreement, Section 8.01(a)(i), Brookfield Business Partners Form 6-K, Ex-99-1). The transaction is anticipated to be completed in the second half of 2023. (Press Release, Brookfield Business Partners, Form 6-K, Ex-99.1, Oct. 11, 2022, SEC Filing).


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