Brookfield in exclusive talks to take control of Neoen

Brookfield, together with Brookfield Renewable and Temasek, has entered into exclusive negotiations to purchase a majority shareholding in French renewables developer Neoen. The acquisition of the 53.2% stake is expected to be made through a special purpose vehicle exclusively controlled by Brookfield (Brookfield Renewable Holdings). After the block acquisition, Brookfield Renewable Holdings would file a mandatory cash tender offer for the remaining shares and OCEANEs in Neoen. Connor Teskey, chief executive for renewable power & transition at Brookfield Asset Management, highlighted the growth prospects with the acquisition of Neoen. Jacques Veyrat, founder and president at Impala, expressed satisfaction with selling Neoen to Brookfield, emphasizing Brookfield's expertise in the renewable energy market. Xavier Barbaro, Neoen’s chairman and chief executive, discussed the milestone of transitioning Neoen's majority ownership to Brookfield, envisioning a growth trajectory and partnership with Brookfield. Additionally, Brookfield is pursuing the transaction through the Brookfield Global Transition Fund II, co-headed by Mark Carney and Connor Teskey, to invest in the global transition to a net-zero economy.

Source:

https://renews.biz/93531/brookfield-seeks-majority-stake-in-neoen/

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