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Cameco buys nuclear fuel broker for $136M

NEW YORK (AP) -- Canadian mining company Cameco Corp. said Monday it has agreed to buy Nukem Energy GmbH, a trader and broker of nuclear fuel for $136 million.

Cameco will also take on $164 million in Nukem's debt. Nukem, which is currently partly owned by private equity firm Advent International, is expected to pay down much of that debt before the deal closes. Closing is anticipated in the last three months of the year.

Nukem has a staff of 35 and has offices in Germany and Danbury, Conn.

Shares of Cameco fell about 2 percent in morning trading, losing 42 cents to $21.16.