May 14, 2012 | last updated June 1, 2012 2:31 pm

Canada's Cameco to acquire Danbury's Nukem

Canadian uranium producer Cameco signed a $300 million deal to buy a German nuclear-fuel broker with Danbury operations.

Cameco, of Saskatchewan, Canada, will pay Advent International $136 million cash and assume $164 million in debt to acquire Advent's Nukem Energy GmbH unit.

The deal is due to close in the fourth quarter, subject to regulatory approvals.

Fifty-year-old Nukem sold about 12 million pounds of uranium last year, and expects to deliver between10 million to 15 million pounds this year.

The company's assets include uncommitted inventory and a portfolio of purchase and sales contracts covering approximately 4.5 million pounds of uranium.

Nukem has 35 staffers in Danbury and Alzenau, Germany.


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