Trump investment in Westinghouse nuclear power could lead to IPO with government ownership

quote:

---

The Trump administration’s plan to spend tens of billions of dollars on Westinghouse nuclear plants could transform it into an independent, publicly traded company with the U.S. government as a major shareholder.

The Commerce Department signed a deal last week with Westinghouse owners Cameco
and Brookfield Asset Management to spend $80 billion to build the company’s nuclear plants across the U.S.

Under the deal, the U.S. government is granted a participation interest in Westinghouse and can require an initial public offering on or before January 2029 if the company’s value surges to $30 billion or more.

The government could become an 8% shareholder in Westinghouse under this scenario, said Cameco Chief Operating Officer Grant Isaac on the company’s third-quarter earnings call Wednesday. It is not entitled to a stake in Cameco or Brookfield under the deal, Isaac said.

Cameco would consider spinning out Westinghouse as an independent company in 2029 depending on the circumstances, the executive said.

“There is definitely a unique interest in investing just in Westinghouse,” Isaac said. “Cameco is a funny proxy for that. Brookfield’s probably an even funnier proxy to invest in just Westinghouse.”

---