Following the approval of its mandatory simplified cash tender offer for Neoen, Brookfield Renewable Holdings announced it will hold at least 138,876,760 shares, representing 85.39% of Neoen’s share capital, after converting all acquired OCEANEs. This reduces Neoen's free float below 15% of outstanding shares.
The tender offer, which opened on February 13, 2025, is set to close on March 13, 2025. Brookfield Renewable Holdings has decided to proceed with the conversion of all OCEANEs acquired to date, in line with its stated intentions in the offer document.
Given the high level of ownership, Brookfield Renewable Holdings intends to implement a squeeze-out procedure on the remaining Neoen shares and OCEANEs at their respective offer prices if conditions are met at the closing of the offer. The offer price for shares is 39.85 euros, and for 2022 OCEANEs is 105,000.00 euros (coupon attached).
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