Britain’s competition regulator has cleared the Cameco Corp and Brookfield Renewable Partners’ US$7.9 billion deal to acquire nuclear power plant equipment maker Westinghouse Electric.

Cameco intends to fund part of the acquisition using the entire US$600 million term loan, which will be utilized upon the deal's closure, alongside existing available cash. Cameco is a key supplier of uranium fuel essential for clean energy production globally. Its competitive edge comes from owning high-grade reserves and maintaining cost-effective operations. Utilities worldwide depend on Cameco's nuclear fuel products to produce safe, dependable, and environmentally friendly nuclear energy. The company's shares are traded on both the Toronto and New York stock exchanges, with its headquarters located in Saskatoon, Saskatchewan, Canada.

The deal was announced on October 11, 2022, on the heels of an uptick in interest in nuclear power amid an energy crisis in Europe and soaring crude oil and natural gas prices.