Brookfield in talks to acquire Neoen in $6.6b deal
Transactions - MAY 31, 2024

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Brookfield in talks to acquire Neoen in $6.6b deal

by Kali Persall

Brookfield Asset Management, along with its institutional partners Brookfield Renewable and Temasek, is in talks to acquire a majority shareholding in Neoen, a global renewable-energy developer headquartered in France, from Impala, the Fonds Stratégique de Participations, Cartusia and Xavier Barbaro (Neoen’s chairman and CEO), and other shareholders.

Brookfield plans to acquire approximately 53.32 percent of the outstanding shares of Neoen at a price of €39.85 ($43) per share via its Brookfield Global Transition Fund II. Brookfield Renewable, the largest investor in the Brookfield Global Transition Fund II, expects to invest up to €500 million ($540 million) in the acquisition, which will be funded through available liquidity.

Following this block acquisition, Brookfield said it would file an all-cash mandatory tender offer for the remaining shares and outstanding convertible bonds in Neoen, “with the intention of implementing a squeeze out.”


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