Construction of nuclear reactor Westinghouse’s construction on the Vogtle nuclear facility in Georgia is proceeding after state officials voted to continue it. (Photo: Georgia Power)

TORONTO—Brookfield Asset Management’s Brookfield Business Partners unit said Thursday that it would acquire Westinghouse Electric Co., the nuclear power business that filed for Chapter 11 protection last March 29. The $4.6-billion acquisition from Toshiba is expected to be funded with a combination of $1 billion in equity, a portion of which may later be syndicated; approximately $3 billion of long-term debt financing; and the assumption of certain pension, environmental and other operating obligations.