Cameco Buying Out Areva for Millenium Uranium Project

Financial Post reported Cameco Corp. (TSX:COO,NYSE:CCJ) is buying out Areva SA (EPA:AREVA) for $150 million for control of the Millenium uranium project in Canada.

As quoted in the market news:

The all-cash deal for Areva’s 27.94% stake in Millennium boosts Cameco’s overall interest to 69.9%. The third partner on the project is JCU (Canada) Exploration Ltd., which has to decline its right of refusal for the deal to proceed.

Click here to read the full Financial Post report.