More than three years after buying Westinghouse Electric from Toshiba, Brookfield Business Partners is reportedly considering selling a minority interest in the nuclear company.
Reuters reported April 23 that the international asset management firm is looking at options that include taking on a minority partner in Westinghouse, which Brookfield purchased from Toshiba for $4.6 billion in January 2018.
Brookfield has hired financial firms to help it explore the idea with potential investors in Westinghouse, Reuters reported. Conceivably, Brookfield could use the additional investment in Westinghouse at a time when President Joe Biden is interested in keeping nuclear power as a viable option in order to help the United States reduce carbon dioxide emissions from electricity generation. However, an outright sale of Westinghouse is also a possibility, according to the article.
A Brookfield spokesperson did not immediately respond to requests for comment.
Westinghouse, which recently named former Orano executive Sam Shakir as the head of its nuclear environmental services division, is currently a partner in the Atkins-led Mid-America Conversion Services team that runs depleted uranium hexafluoride conversion plants at the Department of Energy’s Portsmouth Site in Ohio and the Paducah Site in Kentucky.
