Deals
Brookfield to Buy Westinghouse's Global Nuclear Business
- Apollo, Blackstone and Cerberus said to have vied for assets
- Deal marks Canadian firm’s first foray into nuclear business
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The future of Westinghouse Electric Co.’s global nuclear business now rests in the hands of Brookfield Asset Management Inc.’s private equity arm.
Canada’s biggest alternative asset manager agreed to buy what remains of the former nuclear energy powerhouse’s U.S. business, as well as its non-bankrupt European business, for $4.6 billion. It’s the first foray into the nuclear sector for Brookfield Business Partners LP, a publicly traded unit.