Brookfield Renewable Announces Closing Date of Reorganization
Brookfield Renewable Partners L.P. (BEP) and Brookfield Renewable (BEPC) have received all necessary approvals for their previously announced reorganization plan. The arrangement will take effect before market opening on December 24, 2024. Under this reorganization, BEPC shareholders will automatically receive new class A exchangeable shares that maintain the same economic benefits and governance structure as their current investment. These New Exchangeable Shares will continue trading under the symbol 'BEPC' on both the Toronto Stock Exchange and New York Stock Exchange.
Brookfield Renewable Partners L.P. (BEP) e Brookfield Renewable (BEPC) hanno ricevuto tutte le approvazioni necessarie per il piano di riorganizzazione precedentemente annunciato. L'accordo entrerà in vigore prima dell'apertura del mercato il 24 dicembre 2024. Con questa riorganizzazione, gli azionisti di BEPC riceveranno automaticamente nuove azioni convertibili di classe A che mantengono gli stessi benefici economici e la struttura di governance del loro attuale investimento. Queste Nuove Azioni Convertibili continueranno a essere negoziate con il simbolo 'BEPC' sia alla Borsa di Toronto che alla Borsa di New York.
Brookfield Renewable Partners L.P. (BEP) y Brookfield Renewable (BEPC) han recibido todas las aprobaciones necesarias para su plan de reorganización previamente anunciado. El acuerdo entrará en vigor antes de la apertura del mercado el 24 de diciembre de 2024. Bajo esta reorganización, los accionistas de BEPC recibirán automáticamente nuevas acciones convertibles de clase A que mantienen los mismos beneficios económicos y la estructura de gobernanza que su inversión actual. Estas Nuevas Acciones Convertibles continuarán negociándose bajo el símbolo 'BEPC' tanto en la Bolsa de Valores de Toronto como en la Bolsa de Valores de Nueva York.
브룩필드 재생 에너지 파트너스 L.P. (BEP)와 브룩필드 재생 에너지 (BEPC)는 이전에 발표된 재편성 계획에 필요한 모든 승인을 받았습니다. 이 계획은 2024년 12월 24일 시장 개장 전에 발효됩니다. 이 재편성에 따라, BEPC 주주들은 현재 투자와 동일한 경제적 이익과 거버넌스 구조를 유지하는 새로운 A급 전환 주식을 자동으로 받게 됩니다. 이 새로운 전환 주식은 토론토 증권 거래소와 뉴욕 증권 거래소에서 'BEPC' 기호로 계속 거래됩니다.
Brookfield Renewable Partners L.P. (BEP) et Brookfield Renewable (BEPC) ont reçu toutes les approbations nécessaires pour leur plan de réorganisation précédemment annoncé. L'arrangement prendra effet avant l'ouverture du marché le 24 décembre 2024. Dans le cadre de cette réorganisation, les actionnaires de BEPC recevront automatiquement de nouvelles actions convertibles de classe A qui conservent les mêmes avantages économiques et la structure de gouvernance que leur investissement actuel. Ces Nouvelles Actions Convertibles continueront à être négociées sous le symbole 'BEPC' à la Bourse de Toronto et à la Bourse de New York.
Brookfield Renewable Partners L.P. (BEP) und Brookfield Renewable (BEPC) haben alle erforderlichen Genehmigungen für ihren zuvor angekündigten Reorganisationsplan erhalten. Die Regelung tritt vor Markteröffnung am 24. Dezember 2024 in Kraft. Im Rahmen dieser Reorganisation erhalten BEPC-Aktionäre automatisch neue wandelbare Stammaktien der Klasse A, die die gleichen wirtschaftlichen Vorteile und die Governance-Struktur wie ihre derzeitige Investition beibehalten. Diese neuen wandelbaren Aktien werden weiterhin unter dem Symbol 'BEPC' an der Börse Toronto und der Börse New York gehandelt.
- Successful completion of all regulatory, shareholder, and court approvals for reorganization
- Seamless transition with automatic share exchange maintaining same economic benefits
- Continuity in trading symbol and exchange listings
- None.
Insights
BROOKFIELD, NEWS, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Brookfield Renewable Partners L.P. (“BEP”) (NYSE: BEP; TSX: BEP.UN) and Brookfield Renewable Corporation (“BEPC”) (TSX, NYSE: BEPC) today announced that they have now received all required shareholder, court and regulatory approvals for the previously-announced proposed reorganization of BEPC (the “Arrangement”). Accordingly, the Arrangement will become effective prior to markets open on December 24, 2024.
As a result of the Arrangement, in exchange for their class A exchangeable subordinate voting shares of BEPC, BEPC shareholders will automatically receive new class A exchangeable shares (“New Exchangeable Shares”) that provide the same economic benefits and governance as investing in BEPC today. The New Exchangeable Shares will be listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol “BEPC”.
About Brookfield Renewable
Brookfield Renewable operates one of the world’s largest publicly traded platforms for renewable power and sustainable solutions. Our renewable power portfolio consists of hydroelectric, wind, utility-scale solar, distributed generation and storage facilities in North America, South America, Europe and Asia. Our operating capacity totals over 35,000 megawatts and our development pipeline stands at approximately 200,000 megawatts. Our portfolio of sustainable solutions assets includes our investments in Westinghouse (a leading global nuclear services business) and a utility and independent power producer with operations in the Caribbean and Latin America, as well as both operating assets and a development pipeline of carbon capture and storage capacity, agricultural renewable natural gas and materials recycling. Further information is available at https://bep.brookfield.com.
Brookfield Renewable is the flagship listed renewable power and transition company of Brookfield Asset Management, a leading global alternative asset manager with over
Contact Information
| Media: | Investors: |
| Simon Maine | Alex Jackson |
| Managing Director | Vice President |
| Corporate Communications | Investor Relations |
| Tel: +44 739 890 9278 | Tel: +1 416 649 8196 |
| Email: simon.maine@brookfield.com | Email: alexander.jackson@brookfield.com |
Cautionary Statement Regarding Forward-looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities laws. The words “will,” “expect”, or derivations thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. Forward-looking statements in this news release include statements regarding BEP and BEPC’s beliefs on certain benefits of the Arrangement; the anticipated closing date of the Arrangement; and the commencement of trading of the New Exchangeable Shares on the Toronto Stock Exchange and New York Stock Exchange. Although BEP and BEPC believe that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of BEP and BEPC are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of BEP and BEPC to differ materially from those contemplated or implied by the statements in this news release include risks and factors described in the documents filed by BEP and BEPC with securities regulators in Canada and the United States including under “Risk Factors” in BEP’s and BEPC’s most recent Annual Reports on Form 20-F and other risks and factors that are described therein. Except as required by law, BEP and BEPC undertake no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.
FAQ
When will Brookfield Renewable's (BEP) reorganization take effect?
What will BEPC shareholders receive in the reorganization?
Will the new BEPC shares continue trading under the same symbol?
What approvals were required for Brookfield Renewable's reorganization?
