Canada’s Brookfield Asset Management has entered exclusive negotiations with Neoen’s major shareholders to acquire a 53.32% stake in the French renewable energy company.
If the deal is completed, Brookfield Asset Management will acquire a 100% stake in Neoen. Brookfield offered €39.85 per share, for a total amount of approximately €6.1 billion.
“The acquisition of Neoen strengthens Brookfield’s global reach, while diversifying operations in key renewable energy markets and providing significant expertise in battery storage technology,” said Connor Teskey, CEO of renewable energy at Brookfield Asset Management.
Neoen’s board of directors unanimously welcomed Brookfield Asset Management’s proposal and appointed French financial advisory firm Finexsi as an independent expert to the company’s board of directors. For Neoen, which has been listed on the Paris Stock Exchange since 2018, the acquisition would strengthen its investment resources.
“Brookfield will support our company in a new phase of its growth, and enable Neoen to further strengthen its position as a global player and leader in renewable energy production,” said Xavier Barbaro, Chairman and CEO of Neoen.
The transaction will take place in three phases, followed by mandatory listing procedures of the Paris Stock Exchange.
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