The purchase of a controlling share in French renewable energy provider Neoen by Brookfield is now finalised. Brookfield acquired 53.12% of Neoen’s shares at a price of €39.85 per share, and regulatory authorities approved the deal, which it disclosed earlier this year. The acquisition represents yet another significant turning point in Brookfield’s growth in the sector of renewable energy.
As part of the block acquisition, Brookfield secured shares from Impala and other shareholders. Following this acquisition, the company will file a mandatory simplified cash tender offer. The tender offer will be filed with French financial authorities for the remaining stake in Neoen.
It is expected that the tender offer process will start in the next few days. This acquisition is part of Brookfield’s plan to expand its portfolio of renewable energy sources and solidify its place in the global renewable energy market.
Growth and Synergies
Brookfield’s deputy chief investment officer for renewable energy, Ignacio Paz-Ares, said he was happy to have finished this significant stage in the delisting of Neoen. He claimed that Brookfield’s wealth of experience and financial resources will help Neoen’s expansion.
Also read: Neoen Secures Debt Financing for Renewable Energy Expansion
The two businesses hope to enhance Neoen’s position as the world leader in the renewable energy sector by merging its top-tier renewable assets with Brookfield’s resources.
New Majority Shareholder
Over the past 15 years, Neoen has become a leader in renewable energy thanks to the essential assistance of Impala. The company’s CEO, Xavier Barbaro, expressed his appreciation for the assistance.
Barbaro also expressed excitement about Brookfield becoming Neoen’s new majority shareholder. He shared that both companies share a common vision for clean, competitive, and locally produced energy. With Brookfield’s support, Neoen aims to build a future of endless growth possibilities.
A Strategic Move
The Neoen acquisition fits well into the Brookfield diversification and expansion of renewable energy investments. The wide portfolio of Neoen renewable energy and experience will be added value to the portfolio that Brookfield has in its possession.Â
The deal makes Brookfield stronger in terms of becoming the world leader in renewable power. The acqusition positions the company to better respond to increasing demand for clean energy solutions.
Through this acquisition, Brookfield and Neoen are indeed positioned well to drive forth the shift to renewable energies.