Nov 18 (Reuters) - Brookfield Asset Management Inc proposed on Friday to take a 50-60 percent stake in bankrupt solar company SunEdison Inc unit TerraForm Power Inc , a week after it expressed interest in buying the unit.
The cash offer of $13 for class A and class B shares of TerraForm Power is nearly in line with the class A stock’s Thursday close of $13.01.
The asset manager, which in June expressed interest in buying SunEdison's stake in TerraForm, said last week that it had met with the companies and their advisers to discuss options for a deal. (bit.ly/2fB6Pp3)
One option included Brookfield replacing SunEdison as the sponsor of yieldcos TerraForm Power and TerraForm Global Inc , keeping them as listed entities and purchasing class A and class B shares.
Yieldcos are publicly traded units that hold renewable energy assets, including those bought from the parent company.
Brookfield had said it could alternatively purchase the two yieldcos for cash. (Reporting by Arathy S Nair in Bengaluru; Editing by Shounak Dasgupta)