UK regulator clears Cameco, Brookfield Renewable’s $7.9 billion Westinghouse deal

(Reuters) – Britain’s competition regulator on Friday cleared the Cameco Corp and Brookfield Renewable Partners’ $7.9 billion deal to acquire nuclear power plant equipment maker Westinghouse Electric.

The Competition and Markets Authority (CMA), which had started looking into the deal in August, said it will not refer the merger for a deeper probe.

The deal was announced in October last year on the heels of an uptick in interest in nuclear power amid an energy crisis in Europe and soaring crude oil and natural gas prices.

(Reporting by Radhika Anilkumar in Bengaluru; Editing by Shinjini Ganguli)