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(Bloomberg) -- Canadian asset manager Brookfield Asset Management Ltd. and co-investors moved a step closer to a €6.1 billion ($6.4 billion) takeover of Neoen SA, completing the purchase of about 53% of its shares.
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Brookfield and partners acquired the controlling stake in the French renewables developer from shareholders including Impala SAS at €39.85 a share. They confirmed plans to open a tender offer for the rest of the stock at the same price, with a view to taking the firm private.
Investors seeking exposure to the clean-power sector amid growing demand for low-carbon energy are pouring funds into renewables developers, which need large amounts of capital to build solar, wind and battery-storage parks.
KKR & Co. in March offered to buy Germany’s Encavis AG in a €2.8 billion deal, while EQT AB bid 16.4 billion Swedish kronor ($1.5 billion) for wind developer OX2 AB in May. In June, Emirati renewables producer Masdar agreed to buy Terna Energy SA in a €2.4 billion transaction.
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