Approval of Brookfield Renewable Holdings’ mandatory simplified cash tender offer for Neoen by the French financial markets authority

Core Viewpoint - Brookfield Renewable Holdings has received approval from the French financial markets authority (AMF) for its mandatory simplified cash tender offer for Neoen, aiming to acquire all remaining shares and OCEANEs of Neoen [2][6]. Group 1: Offer Details - The offer includes approximately 32.31% of Neoen's share capital and all outstanding OCEANEs, with specific prices set at 39.85 euros per share, 48.14 euros per OCEANE issued in 2020, and 105,000.00 euros per OCEANE issued in 2022 [6][8]. - The offer price of 39.85 euros per share represents a premium of 40.3% and 43.5% over the 3-month and 6-month volume weighted average price (VWAP) prior to the announcement [6][8]. - The offer is expected to open on 13 February 2025 and close on 13 March 2025 [11]. Group 2: Support and Recommendations - Neoen's Board of Directors has expressed support for the transaction and recommended that shareholders and convertible bondholders tender their securities into the offer [9]. - An independent expert, Finexsi, concluded that the financial terms of the offer are fair for all Neoen's shareholders and convertible bondholders [6][9]. Group 3: Future Steps - If legal conditions are met at the closing of the offer, Brookfield Renewable Holdings will request a squeeze-out procedure for the remaining shares and OCEANEs at the respective offer price [10]. - Documentation related to the offer will be available on the dedicated transaction websites of Neoen and Brookfield Renewable Holdings, as well as the AMF's website [7].