Brookfield Renewable Holdings, the vehicle created by Brookfield Asset Management for the acquisition of Neoen, announced the successful closure of its mandatory simplified cash tender offer. The offer targeted all Neoen shares and convertible bonds (OCEANEs) not previously held by Brookfield and its concert parties.
Following the offer period, which ran from February 13 to March 13, 2025, Brookfield Renewable Holdings and its concert parties will hold 158,568,130 shares, representing 97.73% of Neoen’s share capital and theoretical voting rights. They also hold 100% of the remaining outstanding 2020 OCEANEs and 95.76% of the remaining outstanding 2022 OCEANEs.
With the conditions met to implement a squeeze-out procedure, Brookfield Renewable Holdings will request that the French financial markets authority (AMF) initiates this procedure for the remaining shares and 2022 OCEANEs. The squeeze-out prices are €39.85 per share and €103,562.50 (ex-coupon) per 2022 OCEANE.
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