Brookfield to take control of SunEdison units for $2.5 billion

Brookfield Asset Management Inc. said on Tuesday it would buy one of the two “yieldcos” of SunEdison Inc., the bankrupt Maryland Heights-based solar company, and take a 51 percent stake in the other, for a total of about $2.5 billion.

Canada’s largest alternative-asset manager will acquire TerraForm Global Inc. for about $787 million and buy 51 percent of Terraform Power Inc. for $1.7 billion.

Brookfield will also assume about $455 million of TerraForm Global’s debt and pay $5.10 per TerraForm Global class A share, a 20 percent premium to the stock’s Monday closing price.

TerraForm Global owns or has contracts to acquire 952 megawatts of wind and solar power in Brazil, India, China, South Africa, Thailand, Malaysia and Uruguay.

Brookfield will replace SunEdison as TerraForm Power’s sponsor once the deal closes.

Read more: St. Louis Post-Dispatch


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