Terraform Global, a solar yieldco subsidiary of bankrupt Sunedison formed to own and operate contracted clean power generation assets in emerging markets, announced the completion of its previously announced merger with an affiliate of Brookfield Asset Management. Under the terms of the agreement holders of Class A shares of Terraform Global common stock are entitled to receive $5.10 per share in cash, without interest and less any applicable tax withholding. The Class A shares of Terraform Global common stock were delisted from the Nasdaq Stock Market by the end of 2017 and the assets of the company will be integrated into Brookfield’s global renewable power portfolio.
According to Mercom Capital Group, Brookfield Asset Management acquired Terraform Global for $787 million in cash and will assume $455 million in net debt, representing an enterprise value of $1.24 billion.
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