Brookfield Renewable Power invests C$750M in TransAlta Corporation
March 25, 2019
750.00 Million CAD
On March 24, 2019, TransAlta Corporation announced an investment from Brookfield Renewable Partners and its institutional partners (“Brookfield”). Brookfield will invest C$750 million in TransAlta by purchase of exchangeable securities, which will be convertible into an equity ownership interest in TransAlta’s Alberta Hydro Assets in the future.
Brookfield has committed to purchase TransAlta’s common shares to increase their ownership to 9 per cent.
TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value.
McCarthy Tétrault LLP advised CIBC World Markets Inc., as financial advisor to TransAlta, with a team led by Robert Richardson that included Scott Bergen (Business), Shane D'Souza and Eric Block (Litigation).