(Corrects headline to remove reference to “$4 bln”)
** Shares in electric utility rise 8.3% to $16.90 in premarket trade
** Brookfield Renewable Partners offers to buy remaining 38% stake of TERP in a deal that values the electricity utility at ~$4 bln
** Brookfield Renewable, which along with its affiliates owns 62% stake in TERP, values the electric utility at $17.31/Class A share
** The $17.31 price, represents an 11% premium to TerraForm Power’s last close
** TERP gained 37.2% in 2019 (Reporting by Arunima Kumar in Bengaluru)
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