(RTTNews) - Innergex Renewable Energy Inc. (INE.TO) on Tuesday announced that it has agreed to be acquired by global investment group CDPQ for a price of $13.75 per share in cash.
CDPQ will also acquire all of the issued and outstanding preferred shares Series A and C of Innergex for $25.00 per share in cash.
The transaction is subject to approval by Innergex's common shareholders and other customary closing conditions.
"We are proud to support Innergex as it embarks on this new chapter, guided by a long-term vision, access to capital, and readiness to seize growth opportunities. This investment perfectly illustrates our constructive capital and dual mandate in action: while we strive for optimal returns, we are committed to supporting essential businesses headquartered in Québec, such as Innergex, which plays a key role in the energy transition and autonomy", said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ. "Innergex has been a leader in renewable energy across North America, with strong development capabilities and a long history of collaboration and partnership with Indigenous communities."
From now until the closing of the transaction, CDPQ will seek to syndicate up to 20% of its invested capital to bring in like-minded investors who share its vision for the next chapter of Innergex's growth.
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