Borealis Puts Up $450M For Bigger Stake In Nuclear Venture

Law360, New York (January 31, 2014, 1:51 PM EST) -- The infrastructure branch of one of Canada's main pension funds will fork over $450 million to substantially increase its stake in the world's largest nuclear power facility, which last year generated roughly 30 percent of Ontario's energy supply, it said Friday.

Borealis Infrastructure, a division of Ontario Municipal Employees Retirement System, will more than double its interest in reactor operator Bruce Power B through the deal, bringing its holding to 56.1 percent. The transaction lifts a 31.6 percent stake from uranium miner Cameco Corp.

Bruce Power,...
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