August Debouzy advises Cameco on French law aspects of acquisition of Westinghouse Electric Company

Communiqué Corporate - M&A | 17/10/22 | 2 min. | Valéry Denoix de Saint Marc Pierre Descheemaeker David Neuwirth Juliette Vachet Vincent Brenot Charles Maurel Renaud Christol Marc-Antoine Picquier Emmanuelle Mignon Guillaume Potin Alexandra Berg-Moussa Ergen Ege Marie-Charlotte Hustache Aurélien Micheli Benjamin van Gaver Amélie Tripet Philippe Alliaume Philippe Durand Boris Léone-Robin Lucie Constant Guillaume Aubatier Dorian Scemama Alix Kianpour Olivier Attias François Pochart Pierre-Olivier Ally Geoffroy Thill Julien Tiphine Audrey Msellati Alexandre Bay

August Debouzy, in coordination with Covington & Burling, is advising Cameco Corporation, the world’s largest publicly traded uranium company and a cornerstone of the Canadian nuclear industry, on the French law aspects of a contemplated acquisition of Westinghouse Electric Company, one of the world’s largest nuclear services businesses, for an enterprise value of $7.875 billion and an estimated $4.5 billion equity cost. Covington & Burling assists Cameco with the general coordination of the transaction and the US law aspects.

For the purpose of this transaction, Cameco Corporation and Brookfield Renewable Partners, together with its institutional partners, are forming a strategic partnership, whereby Brookfield Renewable, with its institutional partners, will own a 51% interest in Westinghouse and Cameco will own 49%.

The transaction involves the acquisition of 5 French subsidiaries with a workforce of more than 500 employees and is subject in particular to customary closing conditions and regulatory approvals.

Legal counsels:

August Debouzy assists the potential purchaser, Cameco Corporation, with a team led by Valéry Denoix de Saint Marc and Pierre Descheemaeker (partners), David Neuwirth (senior associate) and Juliette Vachet (associate) on corporate/M&A aspects; Vincent Brenot (partner) and Charles Maurel (associate) on FDI aspects, Renaud Christol (partner) and Marc-Antoine Picquier (associate) on merger control aspects.

On the due diligence, the AD team was also composed of: Emmanuelle Mignon (partner) and Guillaume Potin (associate) on public law and nuclear regulation aspects; Alexandra Berg-Moussa (partner), Ergen Ege (counsel), Marie-Charlotte Hustache (senior associate) and Aurélien Micheli (associate) on commercial contracts; Benjamin van Gaver (partner), Amélie Tripet (counsel), Alexandre Bay and Philippe Alliaume (associates) on litigation; Philippe Durand (partner), Julien Tiphine and Boris Léonin-Robin (counsels) and Lucie Constant (associate) on employment and social contributions aspects, Guillaume Aubatier (partner), Dorian Scemama (counsel) and Alix Kianpour (associate) on real estate aspects; Olivier Attias (counsel) and Audrey Msellati (associate) on compliance aspects; François Pochart (partner), Pierre-Olivier Ally (counsel) and Geoffroy Thill (European Patent Attorney) on IP aspects.

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