Commodities supplier Cameco Corp. and investment fund Brookfield Renewables have carried out a joint acquisition of privately owned Canadian company Westinghouse Electric, according to a press release.

Westinghouse Electric is one of the leading servicing companies in nuclear energy.

The acquisition has an enterprise value of just under USD 7.9bn. The two new owners maintain Westinghouse Electric’s existing debt structure, requiring them to pay USD 4.5bn for the shares in the company.

Following the transaction, Cameco will own 49% percent interest in the company, while Brookfield will own 51% of Westinghouse Electric’s shares.

Among other things, Cameco mines and sells uranium to fuel nuclear power plants. The company share declined by 12.1% in post-trading following the news of the acquisition.

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