Brookfield acquires Westinghouse Electric for $5.75bn

By zaymalz malz

Brookfield Business Partners, an arm of Canada’s largest asset management company, Brookfield Asset Management, has agreed to purchase nuclear energy company Westinghouse Electric in a deal worth approximately USD$4.6bn (CAD$5.75bn).

The company, previously owned by Toshiba, filed for bankruptcy last year, putting a large financial burden on the Japanese technology giant.

See also:

The transaction will be funded through a combination of USD$1bn of equity and USD$3bn in a long-term debt financing program in order to take control of 100% of the struggling business.

“Brookfield’s acquisition of Westinghouse reaffirms our position as the leader of the global nuclear industry,” said Westinghouse President & CEO José Emeterio Gutiérrez.

“Our transformation and strategic restructuring process is creating a stronger, stable, and more streamlined global Westinghouse business, for the benefit of our customers and employees.” 

The acquisition, if approved by the Bankruptcy Court, is expected to close in the third quarter of 2018.


Featured Articles

JPMorgan Chase: Committed to supporting the next generation

JPMorgan has unveiled a host of new and expanded philanthropic activities totalling US$3.5 million to support the development of apprenticeship programmes

How efficient digital ecosystems became business critical

During this unprecedented era of rapid digital transformation, establishing a well-functioning ecosystem stands to benefit both employees and customers

Mastercard: Supporting clients at a time of rapid evolution

Mastercard has announced a significant expansion of its consulting business with the launch of new practices dedicated to both AI and economics

Why Ceridian has boldly rebranded to Dayforce

Human Capital

McKinsey’s eight lessons in leadership for aspiring CEOs

Leadership & Strategy

KPMG: The biggest challenges facing global CEOs in 2023

Leadership & Strategy