Innergex Completes Acquisition by La Caisse, Plans Delisting

Innergex Renewable Energy ( (TSE:INE) ) just unveiled an announcement.

Innergex Renewable Energy Inc. has completed its acquisition by La Caisse, with La Caisse acquiring all common and preferred shares of Innergex. This acquisition, structured as a plan of arrangement, involves La Caisse syndicating 20% of its invested capital to like-minded investors, and certain senior management members reinvesting in the privatized company. The acquisition is expected to result in the delisting of Innergex’s shares and debentures from the Toronto Stock Exchange, and the company has applied to cease being a reporting issuer in Canada.

The most recent analyst rating on (TSE:INE) stock is a Hold with a C$11.00 price target. To see the full list of analyst forecasts on Innergex Renewable Energy stock, see the TSE:INE Stock Forecast page.

Spark’s Take on TSE:INE Stock

According to Spark, TipRanks’ AI Analyst, TSE:INE is a Outperform.

The overall score is driven by strong corporate events and solid technical analysis. However, high debt levels and valuation concerns weigh on the financial performance score. The stock’s positive momentum is reinforced by strategic corporate actions.

To see Spark’s full report on TSE:INE stock, click here.

More about Innergex Renewable Energy

Innergex Renewable Energy Inc. is an independent renewable power producer that develops, acquires, owns, and operates hydroelectric facilities, wind farms, solar farms, and energy storage facilities. The company operates in Canada, the United States, France, and Chile, managing a portfolio of 92 operating facilities with a net installed capacity of 3,948 MW. Innergex is committed to generating power from renewable sources to promote healthier communities and shared prosperity.

Average Trading Volume: 585,920

Technical Sentiment Signal: Buy

Current Market Cap: C$2.79B

See more insights into INE stock on TipRanks’ Stock Analysis page.