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Brookfield becomes majority shareholder of Neoen for €6 billion

The Canadian group Brookfield acquired 53.12% of the capital of Neoen, a French renewable energy specialist, paving the way for a public offer for the remaining shares.

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The Canadian asset manager Brookfield, through its Brookfield Renewable Partners platform, officially acquired 53.12% of Neoen’s capital on Friday. Neoen is one of the leading French companies in renewable energy. This transaction marks a significant milestone for Neoen, which could potentially delist from the Paris Stock Exchange.

Brookfield also announced its intention to submit, in the coming days, a public offer proposal for the remaining shares. According to Bloomberg, Neoen’s current market capitalization exceeds €6 billion, while the purchase offer will be priced at €39.85 per share, pending approval by the French Financial Markets Authority (AMF).

An ambitious growth strategy

Founded in 2008, Neoen has quickly established itself in the global renewable energy market. The company currently operates in 16 countries, including Australia, France, and Finland. Its installed and under-construction capacity reaches 8.7 gigawatts, according to internal data.

Benefiting from profitability achieved as early as 2011, Neoen has pursued an ambitious growth strategy. The company went public in 2018 and is now part of the SBF 120 index, which represents major companies listed in France.

Impala hands over control

Before this acquisition, Neoen was controlled by Impala, the holding company of businessman Jacques Veyrat, which held 42.14% of its capital. This strategic shift highlights the growing influence of foreign investors in key sectors of the energy transition.

A similar move was observed last March when the U.S. investment fund KKR launched a public offer for Encavis, a German company specializing in wind and solar energy, for €2.8 billion.

Strategic perspectives for Brookfield

Xavier Barbaro, CEO of Neoen, expressed satisfaction with this agreement: “Sharing the same vision of clean, competitive, and locally produced energy, we look forward to building an infinite growth future with Brookfield for Neoen.”

With this acquisition, Brookfield strengthens its position in the renewable energy market while adding a key player to its global portfolio. If the Canadian group manages to acquire more than 90% of Neoen’s capital and voting rights, the company could be delisted from the Paris Stock Exchange, facilitating a strengthened integration strategy and accelerated growth.

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