Brookfield Asset Management (TSE:BAMPF.PF.F) has offered to buy a majority stake in French renewable power producer Neoen SA (EPA:NEOEN) for EUR 6.1 billion (USD 6.58bn), a deal valued at a 26.9% premium over the last closing price of the shares. The Canadian asset manager is currently in exclusive negotiations to buy 53.32% of Neoen’s stock at a price of EUR 39.85 per share. Once completed, Brookfield plans to file an all-cash mandatory tender offer for all remaining shares and outstanding convertible bonds. The deal is subject to clearance from antitrust and foreign investment regulators and is expected to be finalised by the end of 2024. Neoen operates in the global solar, wind power and storage markets, with a portfolio of almost 9.1 GW, including 8 GW in operation or under construction.

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