06:40 AM EDT, 05/30/2024 (MT Newswires) -- Brookfield (BN), Brookfield Renewable (BEP), and Singapore sovereign wealth fund Temasek have entered into exclusive talks to acquire French renewable energy company Neoen from Impala and other shareholders at a cash price of 39.85 euros ($43.08) per share, the companies said in a statement on Thursday.

The offer for shares values the company at 6.1 billion euros. Following the acquisition of a block of 53.32% of the shares, Brookfield Renewable will file a mandatory cash offer for the remaining shares of Neoen at the offering price, the statement said.

The acquisition offer represents a 26.9% premium over the company's last closing price. Neoen's board of directors unanimously welcomed Brookfield's offer.

Other Neoen stakeholders involved in the talks include Isalt's Fonds Strategique de Participations, Cartusiai, and Xavier Barbaro, chief executive of Neoen.

Brookfield Asset Management Chief Executive Connor Teskey described Neoen as "one of the world's greatest renewable energy development platforms" and said the acquisition would add to the company's global scale "while diversifying into key renewables markets and adding expertise in battery storage technology."

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