Boralex to be acquired by Brookfield and La Caisse for C$37.25 in cash per share

Boralex (BRLXF), Brookfield and La Caisse announced that they have entered into a definitive arrangement agreement, whereby Brookfield and La Caisse will acquire all of Boralex Inc.’s issued and outstanding Class A common shares of Boralex for a price of C$37.25 in cash per common share. “The Transaction follows an extensive review undertaken by a special committee comprised entirely of independent directors of Boralex’s board of directors, to maximize shareholder value, finance Boralex’s strong pipeline and position the Corporation for its next phase of growth. The Transaction provides Boralex with the support of long-term investors aligned with its business model and growth ambitions, building on its 35-year experience to further contribute to the economic growth, energy security, and decarbonization of its core markets in Canada, the United States, France and the United Kingdom. Boralex will operate independently following close of the Transaction. Similar to the benefits realized across Brookfield’s other platforms, the investment from Brookfield and La Caisse will help advance the Corporation’s mission of delivering affordable, renewable energy and enable it to meet growing demand driven by electrification, reindustrialization, and digitalization,” the company stated.