(Reuters) – Brookfield has entered into exclusive negotiations with Impala and other shareholders to acquire a 53% stake in Neoen and launch a mandatory tender offer for 100% of the company, the French producer said on Thursday renewable energy in a press release.
Brookfield’s offer implies a valuation of 6.1 billion euros for 100% of the shares, the press release said.
“Brookfield has entered into exclusive negotiations with Impala, the Strategic Investment Fund managed by ISALT, Cartusiai and Xavier Barbaro and other shareholders with a view to acquiring approximately 53.32% of the existing Neoen shares at a price of 39.85 euros per action,” Neoen said in his statement.
“We intend to leverage Brookfield’s expertise, experience and access to capital to continue to accelerate Neoen’s growth, while preserving its culture and identity,” said Connor Teskey, CEO of Brookfield Asset. Management.
“Brookfield will support our company in a new phase of its growth, and allow Neoen to further strengthen its stature: that of a global player, leader in the production of renewable energy,” said Xavier Barbaro, CEO of Neoen, according to the press release.
Neoen’s shares closed on Wednesday at 31.40 euros, giving the French group a market capitalization of around 4.8 billion euros.
(Gnaneshwar Rajan in Bangalore; Jean Terzian and Zhifan Liu)
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