Brookfield Renewable Holdings SAS, indirectly controlled by Brookfield Asset Management, filed a draft offer document relating to a simplified mandatory tender offer for Neoen shares and convertible bonds (OCEANEs). The offer price is set at EUR 39.85 per share of Neoen and EUR 48.14 per 2020 OCEANE.
The offer is mandatory because Brookfield Renewable Holdings crossed the 30% threshold of Neoen's share capital and voting rights through a block trade acquisition. The offer targets all outstanding shares and OCEANEs not already held by the Offeror.
This filing is a formal step in the acquisition process, which may be followed by a squeeze-out procedure if conditions are met. The duration of the offer is set for 21 trading days, with the timetable to be set by the French stock market authority (AMF).
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.