Transaction|November 28, 2011
Brookfield announces launch of Brookfield Renewable Energy Partners
Torys acted as counsel to Brookfield Renewable Power with a team that included Karrin Powys-Lybbe, Rima Ramchandani, Jonathan Cescon, Dean Kotwal, Michele Discepola, Matthew Atkey, Shirin Mirsaeidi and Paulina Taneva (corporate and securities), Rose Bailey, Michael Zackheim, Nina Mansoori and Mohammed Muraj (lending), John Tobin and Richard Johnson (Canadian tax), Peter Keenan, James Guadiana and David Mattingly (U.S. tax), Charles Keizer (energy regulatory), Andy Beck, Christopher Roehrig and Konata Lake (U.S. corporate), Omar Wakil Craig Pell (antitrust), Adrienne DiPaolo (employment) and Linda Plumpton, Andrew Gray and Alex Smith (litigation).
On November 28, 2011, Brookfield Asset Management Inc. (TSX: BAM.A, NYSE: BAM) (Brookfield) and Brookfield Renewable Energy Partners (TSX: BEP.UN) (Brookfield Renewable) announced the completion of the previously announced strategic combination of the renewable power assets of Brookfield Renewable Power Inc. (Brookfield Power) and Brookfield Renewable Power Fund (Fund) to launch Brookfield Renewable, a publicly-traded partnership focused on renewable power generation.
Public unit holders of the Fund received one non-voting limited partnership unit of Brookfield Renewable in exchange for each trust unit of the Fund. Brookfield owns 73% of Brookfield Renewable on a fully-exchanged basis and the remaining 27% is held by the public.
Brookfield Renewable Power is wholly-owned by Brookfield Asset Management Inc. and has more than 100 years of experience as an owner, operator and developer of hydroelectric power facilities.
Brookfield Asset Management is a global alternative asset manager with approximately $150 billion in assets under management. It has over 100-year history of owning and operating assets with a focus on real estate, infrastructure, power and private equity.
Brookfield Renewable Power Fund is a premier Canadian income fund and one of the largest power income funds in North America with more than 1,700 megawatts of power generating capacity and average annual production exceeding 6,500 gigawatt hours.
Further information can be found on Brookfield's website.
Public unit holders of the Fund received one non-voting limited partnership unit of Brookfield Renewable in exchange for each trust unit of the Fund. Brookfield owns 73% of Brookfield Renewable on a fully-exchanged basis and the remaining 27% is held by the public.
Brookfield Renewable Power is wholly-owned by Brookfield Asset Management Inc. and has more than 100 years of experience as an owner, operator and developer of hydroelectric power facilities.
Brookfield Asset Management is a global alternative asset manager with approximately $150 billion in assets under management. It has over 100-year history of owning and operating assets with a focus on real estate, infrastructure, power and private equity.
Brookfield Renewable Power Fund is a premier Canadian income fund and one of the largest power income funds in North America with more than 1,700 megawatts of power generating capacity and average annual production exceeding 6,500 gigawatt hours.
Further information can be found on Brookfield's website.