MONTREAL — Brookfield Asset Management Ltd. and La Caisse have signed a deal to buy Quebec-based power producer Boralex Inc.
Under the agreement, the buyers will pay $37.25 per share in cash for the company, an offer that implies a total equity value of about $3.8 billion.
Shares in the company, which has been reviewing strategic alternatives, closed up $2.30 at $33 on the Toronto Stock Exchange on Monday.
La Caisse, Boralex’s largest shareholder with about a 15 per cent stake, has agreed to invest in the resulting private company, leading to a pro forma ownership of 30 per cent.
Brookfield, together with its institutional partners including Brookfield Renewable Partners, will hold the other 70 per cent.
The deal, which is subject to shareholder and other approvals as well as customary conditions, is expected to close by the fourth quarter of this year.
This report by The Canadian Press was first published March 25, 2026.
Companies in this story: (TSX:BLX, TSX:BAM, TSX:BEP.UN, TSX:BN, TSX:BEPC)
The Canadian Press
