Brookfield Renewable Holdings SAS increases the price offered for the 2022 OCEANEs as part of the simplified tender offer for the Neoen shares and OCEANEs
Brookfield Renewable Holdings SAS has announced an increase in the price offered for the 2022 OCEANEs from EUR 101,382.00 to EUR 105,000.00 as part of its mandatory simplified tender offer for Neoen. The price for Neoen shares (EUR 39.85) and 2020 OCEANEs (EUR 48.14) remains unchanged.
Brookfield currently holds, directly and indirectly, 67.69% of Neoen's share capital and theoretical voting rights (103,464,986 shares) and 30% of the 2020 OCEANEs (1,103,895 OCEANEs). The company holds no 2022 OCEANEs.
Finexsi, the independent expert, will issue an updated report for the ad hoc committee's recommendation to Neoen's board of directors. The offer remains subject to AMF review.
Brookfield Renewable Holdings SAS ha annunciato un aumento del prezzo offerto per le OCEANEs 2022, da EUR 101.382,00 a EUR 105.000,00, nell'ambito della sua offerta pubblica di acquisto semplificata obbligatoria per Neoen. Il prezzo delle azioni di Neoen (EUR 39,85) e delle OCEANEs 2020 (EUR 48,14) rimane invariato.
Brookfield detiene attualmente, direttamente e indirettamente, il 67,69% del capitale azionario di Neoen e dei diritti di voto teorici (103.464.986 azioni) e il 30% delle OCEANEs 2020 (1.103.895 OCEANEs). L'azienda non possiede OCEANEs 2022.
Finexsi, l'esperto indipendente, emetterà un rapporto aggiornato per la raccomandazione del comitato ad hoc al consiglio di amministrazione di Neoen. L'offerta rimane soggetta a revisione da parte dell'AMF.
Brookfield Renewable Holdings SAS ha anunciado un aumento en el precio ofrecido para las OCEANEs 2022, de EUR 101.382,00 a EUR 105.000,00 como parte de su oferta pública de adquisición simplificada obligatoria para Neoen. El precio de las acciones de Neoen (EUR 39,85) y de las OCEANEs 2020 (EUR 48,14) se mantiene sin cambios.
Brookfield actualmente posee, directa e indirectamente, el 67,69% del capital social de Neoen y de los derechos de voto teóricos (103.464.986 acciones) y el 30% de las OCEANEs 2020 (1.103.895 OCEANEs). La compañía no posee OCEANEs 2022.
Finexsi, el experto independiente, emitirá un informe actualizado para la recomendación del comité ad hoc a la junta directiva de Neoen. La oferta sigue sujeta a revisiones por parte de la AMF.
브룩필드 재생 가능 홀딩스 SAS는 네오엔의 의무 간소화 청약 제안의 일환으로 2022 OCEANEs의 가격을 EUR 101,382.00에서 EUR 105,000.00로 인상한다고 발표했습니다. 네오엔 주식 가격(EUR 39.85)과 2020 OCEANEs(EUR 48.14)의 가격은 변경되지 않습니다.
브룩필드는 현재 직접 및 간접적으로 네오엔의 67.69%의 자본금과 이론적 투표권(103,464,986주) 및 2020 OCEANEs의 30%(1,103,895 OCEANEs)를 보유하고 있습니다. 회사는 2022 OCEANEs를 보유하고 있지 않습니다.
독립 전문가인 Finexsi는 네오엔 이사회의 권고를 위한 업데이트된 보고서를 발행할 것입니다. 이 제안은 AMF 검토를 받을 예정입니다.
Brookfield Renewable Holdings SAS a annoncé une augmentation du prix proposé pour les OCEANEs 2022, passant de 101,382.00 EUR à 105,000.00 EUR, dans le cadre de son offre publique d'achat simplifiée obligatoire pour Neoen. Le prix des actions Neoen (39,85 EUR) et des OCEANEs 2020 (48,14 EUR) reste inchangé.
Brookfield détient actuellement, directement et indirectement, 67,69 % du capital social de Neoen et des droits de vote théoriques (103,464,986 actions) ainsi que 30 % des OCEANEs 2020 (1,103,895 OCEANEs). La société ne détient pas d'OCEANEs 2022.
Finexsi, l'expert indépendant, émettra un rapport actualisé pour la recommandation du comité ad hoc au conseil d'administration de Neoen. L'offre est toujours soumise à l'examen de l'AMF.
Brookfield Renewable Holdings SAS hat eine Erhöhung des Angebots für die OCEANEs 2022 von EUR 101.382,00 auf EUR 105.000,00 im Rahmen seines verpflichtenden vereinfachten Übernahmeangebots für Neoen angekündigt. Der Preis für Neoen-Aktien (EUR 39,85) und die OCEANEs 2020 (EUR 48,14) bleibt unverändert.
Brookfield hält derzeit direkt und indirekt 67,69% des Grundkapitals und der theoretischen Stimmrechte von Neoen (103.464.986 Aktien) sowie 30% der OCEANEs 2020 (1.103.895 OCEANEs). Das Unternehmen hält keine 2022 OCEANEs.
Finexsi, der unabhängige Sachverständige, wird einen aktualisierten Bericht zur Empfehlung des ad hoc-Ausschusses an den Vorstand von Neoen vorlegen. Das Angebot unterliegt der Prüfung durch die AMF.
- Price increase for 2022 OCEANEs by EUR 3,618 to EUR 105,000
- Strong market position with 67.69% ownership of Neoen
- Significant holding of 30% of 2020 OCEANEs
- None.
Insights
The strategic move to increase the tender offer price for Neoen's 2022 OCEANEs by
The transaction's structure reveals sophisticated financial engineering, with the
The broader context is equally significant - Brookfield, along with consortium partners including Temasek's Aranda Investments and key management, already controls
From a regulatory perspective, the involvement of AMF and the appointment of Finexsi as independent expert underscores the robust governance framework surrounding this transaction. The updated fairness opinion and board recommendation will be important in determining the offer's reception by remaining security holders.
For the renewable energy sector, this transaction represents a continuing trend of consolidation and institutional investment in renewable infrastructure. Neoen's substantial operational capacity of 8.9 GW and ambitious growth targets make it a strategic asset in the global energy transition landscape.
Paris, Jan. 24, 2025 (GLOBE NEWSWIRE) -- NOT TO DISTRIBUTE, PUBLISH OR DISSEMINATE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION IN WHICH DISTRIBUTION, PUBLICATION OR DISSEMINATION WOULD BE PROHIBITED.
Brookfield Renewable Holdings SAS increases the price offered for the 2022 OCEANEs as part of the simplified tender offer for the Neoen shares and OCEANEs
Toronto and Paris, January 24, 2025:
Following the filing on January 2, 2025 by Brookfield Renewable Holdings SAS ("Brookfield") of a mandatory simplified tender offer for the Neoen shares, the OCEANEs issued in 2020 (the "2020 OCEANEs") and the OCEANEs issued in 2022 (the "2022 OCEANEs") with the French financial markets' authority (Autorité des Marchés Financiers, the "AMF")1, Brookfield announces that it has decided to increase the price offered for the 2022 OCEANEs from EUR 101,382.00 to EUR 105,000.002.
The price offered for the Neoen shares of EUR 39.85 and for the 2020 OCEANEs of EUR 48.14 remains unchanged. Brookfield will file with the AMF an updated draft offer document reflecting the improved price for the 2022 OCEANEs.
Finexsi3, acting as independent expert appointed by Neoen, will issue an updated version of its report based on which the ad hoc committee will issue its recommendation for the board of directors of Neoen4.
The updated version of Finexsi's report and the revised reasoned opinion of Neoen's board of directors will be included in the updated draft response document which will be filed by Neoen with the AMF.
Brookfield holds, directly and indirectly, alone and in concert5, and by assimilation, 103,464,986 shares (i.e.
The updated draft offer document will be available on the website of Brookfield Renewable Holdings (www.neoen-offer-brookfield.com) and the updated draft response document will be available on the websites of Neoen (www.neoen.com). These documents will also be available on the website of the AMF (www.amf-france.org).
The proposed mandatory simplified tender offer initiated by Brookfield Renewable Holdings SAS remains subject to review by the AMF.
Contact information
Neoen
François Repolt (Investors) Fabrice Baron (Media)
+33 6 60 46 59 45 +33 6 14 08 29 81
francois.repolt@neoen.com fabrice.baron@omnicomprgroup.com
Brookfield
John Hamlin (Médias) Aurélia de Lapeyrouse
+44 7436 054 717 +33 6 21 06 40 33
john.hamlin@brookfield.com adelapeyrouse@Brunswickgroup.com
Neoen
Founded in 2008, Neoen is one of the world’s leading independent producers of exclusively renewable energy. With expertise in solar power, wind power and storage, the company plays an active role in the energy transition by producing and supplying competitive, green, local energy on four continents. After a four-fold increase in the last six years, its capacity in operation and under construction stands at 8.9 GW.
Neoen’s flagship operations are France’s most powerful solar farm (300 MWp) in Cestas, Finland’s largest wind farm (404 MW) in Mutkalampi, and two of the world’s most powerful large-scale storage plants including Collie Battery (219 MW / 877 MWh) and Western Downs Battery (212 MW / 424 MWh) in Australia.
A high-growth company, Neoen is targeting 10 GW in operation or under construction in the course of 2025. Neoen is listed in Compartment A of Euronext’s market in Paris (ISIN code: FR0011675362, Ticker: NEOEN) on the SBF 120, CAC Mid 60 and S&P 600 indexes.
For more information: www.neoen.com
Disclaimer
The foregoing relates to the contemplated tender offer filed by Brookfield Renewable Holdings SAS, pursuant to the General Regulations of the Autorité des marchés financiers, on all shares and OCEANEs of Neoen (the "Offer").
The Offer is not and will not be made in any jurisdiction where it would not be permitted under applicable law.
The Offer has not been subject to any application for registration or approval by any financial market regulatory authority other than the AMF and no measures will be taken in this respect. Neither the draft offer document, the draft response document nor any other document relating to the Offer constitutes an offer to sell or acquire financial instruments or a solicitation of such an offer in any jurisdiction in which such an offer or solicitation would be unlawful, could not validly be made, or would require the publication of a prospectus or the completion of any other formality under local financial law.
The holders of Neoen shares and OCEANEs located outside of France can only participate in the Offer if permitted by the local laws to which they are subject, without Brookfield Renewable Holdings SAS having to carry out additional formalities. Publication of the draft offer document, the draft response document, the Offer, the acceptance of the Offer and the delivery of the Shares or OCEANEs may, in certain jurisdictions, be subject to specific regulations or restrictions. Holders of Neoen shares and OCEANEs located outside of France may only participate in the Offer to the extent that such participation is permitted under the local law to which they are subject. Accordingly, persons in possession of the Draft Offer Document are required to obtain information regarding any applicable local restrictions and to comply with such restrictions. Failure to comply with such restrictions may constitute a violation of applicable securities laws. Brookfield Renewable Holdings SAS and Neoen shall not be liable for any breach by any person of any applicable legal or regulatory restrictions.
The Offer will be made in the United States of America in accordance with Section 14(e) of the U.S. Securities Exchange Act of 1934, as amended, (the "U.S. Exchange Act") the rules and regulations promulgated thereunder, including Regulation 14E after application of the exemptions provided by Rule 14d-1(d) of the U.S Exchange Act (the "Tier II" exemption) and the requirements of French law.
1 See press releases published by Brookfield and by Neoen on January 2, 2025.
2 This price is coupon attached. The amount of the Offer Price per 2022 OCEANE is EUR 103,562.50 ex-coupon, the amount of the coupon being EUR 1,437.50 (the coupon detachment is scheduled for 12 March 2025).
3 See press release published by Neoen on May 30, 2024.
4 The ad hoc committee was recomposed following the resignation on December 27, 2024 of the Fonds Stratégique de Participations (FSP), represented by Mr. Christophe Gégout, from its directorship: Neoen's board of directors has appointed Mr. Xavier Barbaro as a new member of the ad hoc committee to replace the FSP.
5 In concert with (i) Aranda Investments Pte Ltd (controlled by Temasek), (ii) Mr. Xavier Barbaro, directly and indirectly through the companies he controls, and (iii) Mr. Romain Desrousseaux.
FAQ
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