Canada’s Brookfield is nearing a deal to acquire a 53% stake in French renewable power producer Neoen, valuing it at around 6.1 billion euros ($6.59 billion), Bloomberg News reported on Thursday, citing people familiar with the matter.
The Canadian asset manager is buying the 42% stake owned by French billionaire Jacques Veyrat’s Impala SAS holding company, the report said, adding that it will buy the remainder from some of Neoen’s other shareholders at about 40 euros per share.
Brookfield and Neoen did not immediately respond to Reuters’ requests for comment.
Brookfield intends to make a tender offer for the rest of Neoen after the stake purchase and take it private at the same price, the report said, adding that the acquisition will value Neoen at around 9.1 billion euros including debt.
Shares of Neoen closed at 31.40 euros on Wednesday, giving the company a market cap of about 4.8 billion euros.
Founded in 2008, Neoen is an independent producer of renewable energy and operates in 16 countries, according to its website.
($1 = 0.9263 euros)
Reuters