Brookfield Asset Management, together with its co-investors, has taken a major step toward completing a €6.1bn ($6.4bn) acquisition of Neoen SA, having secured around 53% of the company’s shares, according to a report by Bloomberg.
The controlling interest in the French renewable energy developer was purchased from shareholders, including Impala SAS, at €39.85 per share.
Brookfield and its partners also announced plans to launch a tender offer for the remaining shares at the same price, with the aim of taking Neoen private.
As demand for low-carbon energy continues to grow, investors are flocking to the clean energy sector, funding renewable developers that require significant capital to build solar, wind, and battery-storage facilities.
Earlier this year, KKR proposed a €2.8bn acquisition of Germany’s Encavis AG, while in May, EQT AB made a bid of SEK16.4bn ($1.5bn) for wind developer OX2 AB.
Additionally, in June, Emirati renewable energy producer Masdar agreed to purchase Terna Energy SA in a €2.4bn deal.
