Brookfield Enters Exclusive Negotiations to Acquire Majority Stake in Neoen

Brookfield has initiated exclusive negotiations with Impala and other shareholders to acquire a 53.32% majority stake in Neoen. The takeover bid is set at 39.85 euros per share, marking a 26.9% premium over Neoen's last closing price. This acquisition places Neoen at an equity value of 6.1 billion euros.

Pending the block acquisition's closure, Brookfield intends to file a mandatory all-cash tender offer for the remaining shares and OCEANEs, aiming for a full squeeze-out. The Neoen Board of Directors has universally welcomed the proposal and appointed Finexsi as an independent expert.

Brookfield's strategy focuses on expanding Neoen’s renewable energy projects globally while maintaining its corporate culture. This acquisition aligns with Brookfield’s broader commitment to facilitate the transition to net-zero emissions.