Brookfield announces successful completion of the tender offer for Neoen, with mandatory squeeze-out to follow

Core Viewpoint - Brookfield Renewable Holdings has successfully completed a cash tender offer for Neoen, acquiring 97.73% of its share capital and initiating a mandatory squeeze-out procedure for the remaining shares and convertible bonds [1][2][3] Group 1: Acquisition Details - The tender offer period ran from February 13 to March 13, 2025, resulting in Brookfield holding 158,568,130 shares of Neoen [2] - Brookfield also acquired 902,796 OCEANEs 2020, representing 100% of the remaining outstanding OCEANEs 2020, and 610 OCEANEs 2022, representing 95.76% of the remaining outstanding OCEANEs 2022 [2][3] - The squeeze-out procedure will be requested at a price of €39.85 per share and €103,562.50 per OCEANE 2022 [3] Group 2: Company Statements - Xavier Barbaro, CEO of Neoen, expressed gratitude to shareholders, highlighting the offer's success as a significant milestone for the company [4] - Ignacio Paz-Ares from Brookfield emphasized the commitment to advancing investments in renewable energy and collaborating with Neoen to accelerate growth [4] Group 3: Company Background - Neoen, founded in 2008, is a leading independent producer of renewable energy, focusing on solar and onshore wind power, as well as battery energy storage [7] - The company's operational capacity has quadrupled over the last six years, currently standing at 8.9 GW, with a goal to reach 10 GW by 2025 [7] - Neoen operates nearly 200 assets globally, including significant projects in Australia, France, and Finland [8]