Borealis to buy Cameco’s interest in nuclear facility Bruce Power for $450 mln
Borealis Infrastructure, an investment arm of the Ontario Municipal Employees Retirement System (OMERS), has entered into a deal to increase its ownership in nuclear generating facility Bruce Power. Borealis has agreed to pay $450 million to acquire the 31.6 percent interest currently held in part of the facility by Cameco Corp (TSX:CCO). Upon completion of the purchase, Borealis will own a 56.1 percent share. Other Bruce Power investors, including TransCanada Corp, the Power Workers’ Union and Society of Energy Professionals will now have the opportunity to exercise their options related to taking additional ownership. Bruce Power's site in Tiverton, Ontario is home to eight CANDU reactors. The facility was responsible for over 30 per cent of the electricity in the province in 2013.
