Ingeteam id2127
in News Departments > FYI

Brookfield Asset Management Inc. and Brookfield Renewable Power Fund say they plan to combine the Fund and the power generating assets owned by Brookfield's wholly owned subsidiary, Brookfield Renewable Power Inc. (Brookfield Power), to create Brookfield Renewable Energy Partners LP (BREP), a global, publicly traded partnership focused on renewable power generation.

The board of trustees of Brookfield Renewable Power Trust formed a special committee of trustees, each of which is independent of Brookfield Power and Brookfield, to consider the proposed combination. The independent committee concluded that the combination is in the best interests of the Fund and the Fund's minority unit holders, and unanimously recommended that the board of trustees approve the combination.

The board of directors of Brookfield Renewable Power Preferred Equity Inc., the issuer of the Class A preference shares, Series 1 (preferred shares), has similarly approved the combination and unanimously recommends that the preferred shareholders vote to approve the combination.

The independent committee retained independent financial, legal and engineering advisers to assist in its consideration of the proposed combination. CIBC World Markets Inc. provided a formal valuation of the trust units of the Fund and the limited partnership units of BREP.



Register here to receive our Latest Headlines email newsletter
Suggested for you
Mortenson id2096