Cameco (TSX: CCO, NYSE: CCJ) has agreed to sell its 31.6 percent limited partnership interest in Bruce Power L.P. to BPC Generation Infrastructure Trust for an aggregate purchase price of C$450 million ($402 million). BPC Generation is also a limited partner in Bruce Power.
The effective closing date of the sale is December 31, 2013, but closing is subject to exercise of waiver of the right of first offer held by the other limited partners: TransCanada Pipelines Limited, the Power Workers’ Union and the Society of Energy Professionals.
CIBC World Markets is acting as financial advisor to Cameco and Osler, Hoskin & Harcourt LLP is acting as legal counsel.
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