Brookfield has successfully completed the acquisition of a majority stake in French renewable energy developer Neoen, following the necessary regulatory approvals for the deal announced earlier this year. The investment firm has purchased 53.12% of shares in Neoen at a price of €39.85 per share as part of a block acquisition from Impala and other shareholders.
Next Steps
Brookfield will soon file a mandatory simplified cash tender offer for the remaining shares in Neoen with French financial authorities. Ignacio Paz-Ares, Brookfield’s Deputy Chief Investment Officer for Renewable Power, stated, “We are pleased to have completed a significant milestone towards the de-listing of the business and intend to launch the tender offer for the remaining securities in the coming days.”
Strategic Growth
Paz-Ares emphasized the strategic benefits of the acquisition: “Combining Neoen’s world-class portfolio of renewable assets with Brookfield’s extensive expertise and access to capital will support the continued growth of the business and build on its global leadership position.”
Neoen’s Chief Executive, Xavier Barbaro, expressed gratitude towards Impala, noting, “I would like to thank Impala for its unwavering support as Neoen’s historical key shareholder. Impala has been instrumental over the last 15 years in contributing to make Neoen one of the world’s leading players in renewable energy. We are now thrilled to welcome Brookfield as our new majority shareholder. Sharing the same vision for clean, competitive, and locally produced energy, we look forward to building a future of endless growth possibilities for Neoen.”
Conclusion
This acquisition marks a significant development in the renewable energy sector, positioning Brookfield and Neoen for enhanced collaboration and growth in the cleaner energy landscape.
Sources
- Brookfield Renewable Partners
- Neoen Official Website
- French Financial Authorities
