Westinghouse is investing $1.5m for a 25% stake in CBD’s commercial project pipeline in Italy, with an option to take up to a 50% share for another $1.5m.
Westinghouse shares rose as much as 19% on Tuesday, before closing 7% higher on the US Nasdaq exchange.
The two companies are collaborating ahead of completion of their agreed merger expected this week. Following the closing of the deal, the two plan to pursue additional opportunities in Europe and the US.
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