Brief: Terraform Global, Brookfield Asset Management enter exclusivity agreement

AlTi Global

23/01/2017 13:02

Jan 23 (Reuters) - Terraform Global Inc  GLBL.O  
    * Terraform Global announces exclusivity agreement with 
Brookfield Asset Management regarding potential transaction 
    * Terraform Global - agreed to negotiate exclusively with 
Brookfield in connection with a potential business combination 
between company and Brookfield 
    * Terraform Global Inc - prior to entering into exclusivity 
agreement, company received a revised bid letter from Brookfield 
    * In its letter, Brookfield proposed four possible 
transactions, none of which is subject to any financing 
condition 
    * Terraform Global Inc - has entered into a memorandum of 
understanding with SunEdison 
    * Terraform Global - under terms, Brookfield would either 
acquire 100 pct co for $4.35/share or replace sunedison as 
sponsor, purchase 50.1 pct of outstanding shares for $4.25/share 
    * Terraform Global - co's board approved MoU upon 
recommendation of independent members who do not also serve on 
board of directors of Terraform Power 
    * Terraform Global Inc - MoU outlines potential separate 
settlements of claims between SunEdison and company and 
SunEdison, Terraform Power 
    * Terraform Global - under proposed settlement terms in MoU, 
SunEdison to get 25 pct of total consideration paid to all of 
company's shareholders 
    * Terraform Global - SunEdison MoU contains certain 
non-binding proposed settlement terms to resolve complex legal 
relationship between co and SunEdison 
    * Terraform Global - under proposed settlement terms, 
SunEdison would receive consideration equal to 25 pct of total 
consideration paid to co's shareholders 
 
Source text for Eikon:  ID:nGNXNOARCa  
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