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Company News

CORRECTED-BUZZ-TerraForm Power: Rises on buyout offer from Brookfield Renewable

(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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