Share purchase agreement signed for acquisition of majority stake in Neoen by Brookfield

Brookfield has signed the share purchase agreement for the acquisition of 53.12% of the outstanding shares of Neoen for EUR39.85/ share in Neoen from Impala and other shareholders.

Neoen announced that Impala, the Fonds Stratégique de Participations managed by ISALT, Cartusia, Xavier Barbaro, and other shareholders had entered into exclusive negotiations with Brookfield for the sale of a majority block of Neoen’s shares to Brookfield (along with some of its institutional partners including Brookfield Renewable and Temasek). Subject to the completion of this Block Acquisition, Brookfield is expected to file an all-cash mandatory tender offer for all remaining shares and outstanding convertible bonds (“OCEANEs”) in Neoen, aiming to implement a squeeze-out. It is anticipated that regulatory approvals will be obtained by Q4 2024, with the tender offer expected to launch in Q1 2025.