Brookfield Renewable Holdings will acquire Neoen

Neoen S.A. (FR: NEOEN) has released an update.

Brookfield Renewable Holdings intends to acquire a majority stake of 53.32% of Neoen at a price of €39.85 per share, a premium to the current share price, with plans to commence a full buyout and strengthen Neoen’s global leadership in renewable energy. The €6.1 billion acquisition of Brookfield is backed by Neoen’s management and is aimed at accelerating growth, particularly in its wind, solar and storage assets. Boasting a solid portfolio and a significant pipeline of projects, Neoen is looking forward to a growth-oriented partnership with Brookfield.

For more information on FR:NEOEN stock, check out TipRanks Stock analysis page.