Brookfield-backed TerraForm bids $1.2 bln for Saeta Yield: Reuters
TerraForm Power Inc, controlled by Canada’s Brookfield Asset Management, has launched a 995 million euro (US$1.2 billion) takeover bid for Spanish renewable energy company Saeta Yield to expand its presence in Western Europe, Reuters reported. Saeta’s main shareholders, Spanish construction company ACS, headed by Real Madrid Chairman Florentino Perez, and U.S. fund Global Infrastructure Partners, which both hold 24 percent stakes, have agreed to sell their holdings. TerraForm said the deal would be financed with a US$400 million equity offering backed by Brookfield. Brookfield last year acquired TerraForm, formerly a unit of U.S. solar company SunEdison Inc, for US$$656 million.
7 February 2018•2 mins read
