Firm eyes Westinghouse sale
CRANBERRY TWP — The Canadian investment firm that owns Westinghouse came short of refuting reports it seeks to sell a minority stake in the Cranberry-based nuclear power company, but noted it is “in no rush to sell” the entire nuclear firm.
In an earnings call Wednesday, Brookfield Business Partners CEO Cyrus Madon said the investment firm currently intends to “maintain at least control of this company for a long period of time” in response to an investor's question, adding that Westinghouse is currently poised prominently in its industry and provides the firm with cash revenue. Madon outlined, however, how a potential sale would look.
“If we do decide to sell, we'll probably look to sell a minority interest or something like that, but otherwise we're very, very pleased with the business and think it has considerable upsides from here, from what we've already achieved,” Madon said.
Read more in Friday's Butler Eagle.