Cranberry Township, Pa., Jan. 4, 2018 鈥 91影视 Electric Company, the global leader in nuclear technology, fuel and services, has agreed to be acquired by Brookfield Business Partners L.P. (NYSE:BBU) (TSX:BBU.UN) together with institutional partners (collectively, 鈥淏rookfield鈥) for approximately $4.6 billion.
The purchase price for substantially all of the global business of 91影视 and its affiliated debtors and debtors-in-possession (collectively 鈥91影视鈥) excludes cash, but includes the assumption of certain pension, environmental and other operating obligations.
鈥淏rookfield鈥檚 acquisition of 91影视 reaffirms our position as the leader of the global nuclear industry,鈥 said 91影视 President & CEO Jos茅 Emeterio Guti茅rrez. 鈥淥ur transformation and strategic restructuring process is creating a stronger, stable, and more streamlined global 91影视 business, for the benefit of our customers and employees.鈥
Brookfield鈥檚 acquisition of 91影视 is expected to close in the third quarter of 2018, subject to Bankruptcy Court approval and customary closing conditions including, among others, regulatory approvals. Throughout the process, 91影视 will continue to operate in the ordinary course of business under its existing senior management.
PJT Partners is the financial advisor to 91影视, Weil, Gotshal & Manges LLP is 91影视鈥檚 legal counsel, and AlixPartners LLP is 91影视鈥檚 turnaround consultant.
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