Brookfield closes $4.6 bln acquisition of Westinghouse Electric
The private equity group of Brookfield Asset Management has closed its acquisition of Westinghouse Electric Co LLC, a Pittsburgh-based provider of nuclear plant products and services. The deal, announced in January, reflected a purchase price of US$4.6 billion. Brookfield bought Westinghouse from Chapter 11 as a reorganized company. The prior owner was Toshiba Corp. Westinghouse reportedly went bankrupt in 2017 after a foray into nuclear plant construction projects. In March, Brookfield Senior Managing Partner Cyrus Madon told Buyouts and PE Hub Canada that Westinghouse’s focus on its “core services business” would be restored following the deal's close.
2 August 2018•2 mins read
