Brookfield nears deal to buy majority stake in France's Neoen, Bloomberg reports (updated)
30/05/2024 06:01
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6)
May 30 (Reuters) - Canada's Brookfield BN.TO is
nearing a deal to acquire a 53% stake in French renewable power
producer Neoen NEOEN.PA , 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)
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Varun H
K)
((Gnaneshwar.Rajan@thomsonreuters.com;))