Uranium Royalty to Buy Sweetwater in $1.1 Billion Nuclear Fuel Deal

Uranium Royalty Corp. agreed to buy Sweetwater Royalties for about $1.1 billion in a deal that would create a new US-listed company to capitalize on growing demand for nuclear fuel.

The tie-up will give New York-based investment firm Orion Resource Partners LP, Sweetwater’s top shareholder, a 43% stake in the combined company, while the Ontario Teachers’ Pension Plan will hold about 16%, according to a statement Thursday. The new entity is expected to list on Nasdaq as Uranium Royalty Corp.