CPPIB finalizes takeover of Pattern Energy

Pattern Energy Group Inc. and Canada Pension Plan Investment Board (CPPIB) have completed the previously announced merger transaction. Under the terms of the merger agreement, CPPIB acquired all of the outstanding common shares of Pattern Energy for US$26.75 per share in cash.

Pattern Energy’s common shares are no longer traded on NASDAQ and are expected to be delisted from the Toronto Stock Exchange shortly following the closing date of the transaction. The company has applied to cease to be a reporting issuer under Canadian securities laws.

Evercore and Goldman Sachs & Co. LLC acted as independent financial advisors to Pattern Energy’s Special Committee of the Board, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as independent legal counsel to the same committee.