Brookfield to Acquire Majority Stake in Neoen, Expanding Renewable Energy Portfolio

has reached an agreement to purchase a majority stake in , a prominent French renewable energy and battery developer. The , valued at approximately €39.85 per share, encompasses around 53.12% of Neoen's outstanding shares in what is termed the “Block Acquisition.”

In a recent statement, Brookfield outlined its strategic move, stating, “We are pleased to announce our acquisition of a significant stake in Neoen, a leader in the renewable energy sector.” The deal includes agreements with major stakeholders including Impala, Fonds Strategique de Participations managed by ISALT, Cartusia, , and others.

Furthermore, Brookfield has secured a tender agreement with 's ETI 2020 fund, covering an additional 4.36% of Neoen's share capital. This sets the stage for a comprehensive tender offer post-Block Acquisition, which aims to encompass all remaining shares and outstanding convertible bonds of Neoen.

The transaction, subject to regulatory approvals expected by the fourth quarter of 2024, positions Brookfield to further bolster its presence in the renewable energy market. The company anticipates launching the tender offer in the first quarter of 2025, with plans that include the potential implementation of a squeeze-out mechanism.


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