Brookfield Asset Management and La Caisse have completed the acquisition of Canada-based renewable energy company Boralex for around C$9bn ($6.5bn), including debt. The deal, announced in March 2026, was carried out through a plan of arrangement under the Canada Business Corporations Act and included Brookfield's institutional partners such as Brookfield Renewable Partners. As part of the transaction, the purchasing consortium acquired all outstanding class A common shares of Boralex at a price of C$37.25 per share in cash.
La Caisse, previously Boralex's largest shareholder with approximately 15% of shares, supported the deal and will hold a 30% stake in the company following a post-closing investment. Boralex's headquarters will remain in Québec, Canada, and the company will continue to operate independently following the close of the transaction. Computershare Investor Services, acting as depositary for the arrangement, has been provided with sufficient funds by the purchasers to pay Boralex shareholders.
These payments are set to be made as soon as is practical in line with the agreement's terms. With the completion of the acquisition, Boralex has applied to cease being a reporting issuer in provinces where it currently reports, and the company's shares are expected to be removed from the Toronto Stock Exchange on or about 17 August 2026. This investment is intended to help Boralex advance its 2030 Strategic Plan and meet increased energy demand driven by trends such as electrification, reindustrialisation and digitalisation.
The transaction, unanimously endorsed by Boralex's Board of Directors, delivers immediate liquidity and clear value certainty for shareholders. National Bank Capital Markets and RBC Capital Markets served as Boralex's financial advisors. Stikeman Elliott advised Boralex and its special committee as legal counsel.
Brookfield was advised financially by BMO Capital Markets and legally by McCarthy Tétrault. CIBC Capital Markets advised La Caisse as financial advisor and Davies Ward Phillips & Vineberg as legal counsel. "Brookfield, La Caisse close $6.5bn Boralex acquisition" was originally created and published by Power Technology, a GlobalData owned brand.
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