Cameco Stock Tumbles on Agreement to Buy Stake in Nuclear Services Company Westinghouse Electric

Cameco

stock was tumbling after agreeing, along with

Brookfield Renewable Partners

to acquire Westinghouse Electric.

The companies will be forming a strategic partnership to acquire Westinghouse, the nuclear services business. Brookfield Renewable (BEP), along with its institutional partners, will own a 51% interest in Westinghouse, and uranium miner

Cameco

(CCJ) will own 49%.