Brookfield's Pending Tender Offer for Neoen Is Attractive

Listed since 2018, Neoen is a French renewables developer. The historic shareholder is Impala S.A.S., which holds 42% of the capital. This is the holding of French businessperson Jacques Veyrat. On May 30, 2024, Impala, Fonds Strategique de Participations, and Cartusia investment vehicle owner and Neoen CEO Xavier Barbaro, together holding 53.3% of the shares, agreed to sell them at EUR 39.85 per share to Brookfield Asset Management, a Canadian investment firm investing in renewables. Upon completion of the block's acquisition, Brookfield will file an all-cash tender offer for the remaining shares and convertible bonds.