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Cameco (TSX:CCO, NYSE:CCJ) is pleased to announce that our joint acquisition of Westinghouse Electric Company with Brookfield Asset Management alongside its publicly listed affiliate Brookfield Renewable Partners and institutional partners has now received all required regulatory approvals. Cameco anticipates the transaction will close on or about November 7, subject to the satisfaction of all other customary closing conditions.
Cameco plans to finance our share of the acquisition utilizing the full amount of our $600 million (US) term loan, which will be drawn down at closing, along with available cash. We will not be utilizing the $280 million (US) bridge commitment that we secured concurrently with the acquisition agreement, and that commitment will be terminated.
The joint acquisition was previously announced on October 11, 2022.
