A PYMNTS Company

UK Regulator Approves $7.9 Billion Westinghouse Electric Acquisition

By  |  November 5, 2023

Britain’s competition regulator, the Competition and Markets Authority (CMA), announced on Friday that it has approved the $7.9 billion acquisition deal between Camecoand Brookfield Renewable Partners for the nuclear power plant equipment manufacturer Westinghouse Electric.

The CMA’s decision comes after an initial investigation that began in August, reported Reuters.

Read more: UK Competition Regulator Probes EV Charge-Points

The acquisition, which was initially revealed in October the previous year, has garnered attention due to a growing interest in nuclear power. This interest has emerged in response to the energy crisis in Europe and the surging prices of crude oil and natural gas.

The CMA’s review of the deal found no significant concerns that would warrant a more in-depth investigation, and as a result, they will not refer the merger for further scrutiny.

Source: Reuters