Brookfield has entered exclusive negotiations to acquire a majority stake in Neoen, implying an equity value of €6.1 billion, with plans to enhance Neoen’s operations amidst rising clean energy demand.

Target Information

Neoen is a prominent global renewable energy developer, possessing a high-quality portfolio of 8,000 megawatts (MW) of operational or under-construction wind, solar, and battery storage assets. The company also boasts an impressive 20,000 MW advanced development pipeline located in strategic markets, including Australia, France, and the Nordics. With a strong emphasis on battery storage technology, Neoen is well-positioned to play a crucial role in the evolving energy landscape as clean energy demand rapidly increases.

The current negotiation involves Brookfield and its institutional partners seeking a majority stake in Neoen, which reflects an equity value of €6.1 billion for the entirety of the company. This acquisition will trigger a mandatory cash tender offer for the remaining Neoen shares and convertible bonds, aiming to consolidate ownership and facilitate a potential squeeze-out if the offer succeeds.

Industry Overview

The renewable energy sector in France has been undergoing significant transformation, supported by governmental policies aimed at reducing greenhouse gas emissions and promoting sustainable energy sources. With an aggressive target to h