In 2017, the Westinghouse Electric Company filed for Chapter 11 bankruptcy in the United States due to multibillion dollar cost overruns in two of its nuclear reactor projects. Westinghouse had been a subsidiary of Japanese industrial conglomerate Toshiba, and its business as the primary global servicer of nuclear power utilities was suffering from a secular decline in the nuclear sector. Investors saw a dying business, Brookfield saw something different.

Dave Nowak, President of Brookfield’s Private Equity Group, explains that because Brookfield owned and operated the world’s largest renewable power business they could see that Westinghouse was a far better business than its woes at the time might have indicated.

Read more at Wealth Professional Canada.

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