Mubasher: A subsidiary of Canada’s Brookfield Asset Management plans to acquire Westinghouse Electric for $4.6 billion, as reported by Reuters.
Westinghouse is a bankrupt nuclear services company owned by Toshiba Corp.
In a statement issued on Thursday, Brookfield Business Partners revealed it would use $1 billion of equity and $3 billion of long-term debt financing to complete the acquisition.
This will be the first time Brookfield enters into the nuclear power activity.
The deal is expected to close in the third quarter but will require approval from regulators and the US Bankruptcy Court, the news agency noted.
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