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Brookfield Asset Management selling $500M of Brookfield Renewable units

May 28, 2020 - SNL Energy Finance Daily

Upon closing of the offering by June 3, Brookfield Asset Management's ownership of Brookfield Renewable's issued and outstanding units will decrease to about 57% from 61%.

Certain affiliates of Brookfield Asset Management Inc. are offering 10,236,000 limited partnership units of Brookfield Renewable Partners LP at $48.85 apiece for gross proceeds of approximately $500.0 million.

The selling unitholders are selling the securities on a bought-deal basis to a syndicate of underwriters l...