Cameco sells stake in Australian co for C$87 mln
Tue Dec 6, 2005 09:45 AM ET
TORONTO, Dec 6 (Reuters) - Cameco Corp. (CCO.TO: Quote, Profile, Research) (CCJ.N: Quote, Profile, Research) will sell its entire 6.7 percent stake in Energy Resources of Australia Ltd. (ERA.AX: Quote, Profile, Research) for net proceeds of C$87 million ($75 million), the world's top uranium producer said on Tuesday.
Cameco, based in Saskatoon, Saskatchewan, said it expects to receive the cash from the sale on Dec. 12 and said the impact on net earnings will be about C$69 million.
