09:07 AM EDT, 03/25/2026 (MT Newswires) -- (Adding more highlights of the transaction from the sixth paragraph onwards)

Renewable energy company Boralex ( BRLXF ) Wednesday entered into a definitive arrangement agreement that will see Brookfield and Quebec-based investment group La Caisse acquire all of its issued and outstanding Class A common shares for a price of $37.25 in cash each.

A statement noted the transaction implies a total enterprise value of $9.0 billion ($9.7 billion on a combined basis), including project and corporate-level indebtedness. This represents a 13 times 2026 estimated consensus EBITDA on the combined total enterprise value.

Boralex ( BRLXF ) said the transaction follows an extensive review undertaken by a special committee comprised entirely of independent directors of its board of directors to maximize shareholder value, finance its strong pipeline and position it for its next phase of growth. Boralex ( BRLXF ) added the transaction provides it with the "support of long-term investors aligned with its business model and growth ambitions."

Under terms, Boralex ( BRLXF ) will operate independently following close of the transaction.

Shares in Boralex ( BRLXF ) gained 7.5% and set fresh 52 week highs yesterday amid reports of a deal like this being finalized.

Among other highlights, Boralex ( BRLXF ) said this transaction provides it with "powerful levers to accelerate the execution of its 2030 Strategic Plan" and "strengthens its ability to create long-term value for all its stakeholders".

It noted the $37.25 in cash per common share represents a 31.8% premium over the March 20, 2026 closing price on the TSX and a 36.4% premium over the 30-day volume-weighted average price for the period ending March 20, 2026, the last full day of trading prior to the first media report of a strategic review of alternatives.

La Caisse, Boralex's ( BRLXF ) largest shareholder with approximately 15% of the outstanding common shares, has agreed to vote in favour of the transaction and to make a post-closing investment in Boralex ( BRLXF ), resulting in a pro forma interest of 30%.

In connection with the transaction, Boralex ( BRLXF ) will maintain its headquarters in Quebec.

Boralex ( BRLXF ) said the transaction, which has been unanimously approved by its Board of Directors, provides "immediate liquidity and certainty of value to shareholders", while positioning the corporation for its next phase of growth as a private company and creating value for Boralex ( BRLXF ) stakeholders.

The transaction is expected to close by Q4 2026, subject to the receipt of the required approvals from Boralex's ( BRLXF ) shareholders and certain regulatory approvals, as well as the satisfaction of other customary closing conditions.