Brookfield to acquire 53.32% share in Neoen

Brookfield together with its institutional partners including Brookfield Renewable and Temasek has entered into exclusive negotiations to purchase a 53.32% shareholding in Neoen from Impala, the Fonds Stratégique de Participations (FSP), Cartusia and Xavier Barbaro, and other shareholders at a price per share of EUR39.85 (US$43.1).

Subject to the closing of the block acquisition, Brookfield would file an all-cash mandatory tender offer for all of the remaining shares and outstanding convertible bonds (“OCEANEs”) in Neoen with the intention of implementing a squeeze out.

Neoen is one of the world’s leading independent producers of exclusively renewable energy, the company operates in 16 countries on several continents. Brookfield intends to accelerate Neoen’s development and strengthen its position as a global leader in renewable energy.