We have reached the inevitable moment in the collapse of SunEdison when various parties began to compete for the most valuable portion of the company’s empire: yieldco TerraForm Power and its 3 GW of assets.
Yesterday Brookfield Asset Management (NYSE: BAM) revealed in a regulatory filing that it has proposed to independent members of the board of TerraForm Power (NASDAQ: TERP) and has proposed either replacing SunEdison as the yieldco’s sponsor, or buying the company outright.
Under the proposal to replace SunEdison as TerraForm’s sponsor, Brookfield would purchase shares from existing stockholders, and under the other option the asset manager would pay 100% of the TerraForm Companies for cash. Brookfield and affiliated companies already own a significant portion of TerraForm Power’s shares…
The rest of this article can be read on the pv magazine USA website.
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