Boralex to Be Acquired by Brookfield and La Caisse in $9 Billion Deal
Event summary
- Boralex Inc. to be acquired by Brookfield and La Caisse for $37.25 per share, a 36.4% premium over the 30-day average price.
- Total enterprise value of $9 billion ($9.7 billion on a combined basis), including project and corporate-level indebtedness.
- La Caisse, Boralex's largest shareholder, will increase its ownership to 30% post-transaction.
- Transaction expected to close by Q4 2026, subject to shareholder and regulatory approvals.
- Boralex will operate independently following the close of the transaction.
The big picture
The acquisition of Boralex by Brookfield and La Caisse underscores the growing trend of private equity investment in renewable energy infrastructure. With a high-quality asset base and a substantial pipeline of advanced projects, Boralex is well-positioned to benefit from the strategic support of its new partners. The deal highlights the increasing focus on accelerating the energy transition and meeting the growing demand for renewable energy solutions.
What we're watching
- Execution Risk
- Whether Brookfield and La Caisse can accelerate Boralex's development pipeline and meet growing demand in core markets.
- Regulatory Approvals
- The pace at which required regulatory approvals are obtained and potential delays in closing the transaction by Q4 2026.
- Strategic Alignment
- How the combined expertise of Brookfield and La Caisse will enhance Boralex's capabilities and leadership in core markets.
Related topics