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Brookfield nears deal to buy France's Neoen for $6.6 bln
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Brookfield nears deal to buy France's Neoen for $6.6 bln
May 29, 2024 11:25 PM

May 30 (Reuters) - Canada's Brookfield is

nearing a deal to buy the entirety of French renewable power

producer Neoen valuing it at around 6.1 billion euros

($6.6 billion), the companies confirmed in a statement.

Neoen said on Thursday its shareholders had started

negotiations with asset manager Brookfield, which aims to buy a

53.32% stake for 39.85 euros per share from main shareholders,

and then the remainder of the company at the same price.

Bloomberg News reported on the potential deal on Thursday,

citing people familiar with the matter. The report said

Brookfield aims to take Neoen private.

"Brookfield's offer implies an equity value for 100% of the

shares of 6.1 billion euros," Neoen said in a statement.

French billionaire Jacques Veyrat's Impala SA holding owns

42% of Neoen, an independent producer of renewable energy

operating in 16 countries.

"Our Board of Directors fully welcomes the transaction,"

said Xavier Barbaro, Neoen's Chairman and CEO, in the statement.

Shares of Neoen closed at 31.40 euros on Wednesday, giving

the company a market cap of about 4.8 billion euros.

($1 = 0.9263 euros)

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