Neoen Announces Board Changes Amid Brookfield Takeover Bid

Neoen SA has announced the resignation of Bpifrance Investissement from its position as a board member. Ms. Emmanuelle Rouchel, President of Brookfield Renewable Holdings, has been co-opted to fill the vacancy. This decision follows Bpifrance's tender of all its Neoen shares to Brookfield's simplified cash tender offer.

The board changes took effect on February 25, 2025, with the official ratification scheduled at Neoen's next Annual General Meeting. The offer by Brookfield Renewable Holdings is set at 39.85 euros per share, representing substantial premiums over previous market values.

Neoen's board has approved the offer, recommending shareholders to tender their securities. Results of the offer are expected by March 18, 2025. If conditions are met, a squeeze-out procedure will be initiated. Details can be found on Neoen and Brookfield’s transaction websites.