- In addition to its $787M deal to buy TeraForm Global, Brookfield Asset Management (NYSE:BAM) agrees to acquire 51% of TerraForm Power (TERP), becoming TERP's sponsor and controlling shareholder.
- TERP class A shareholders will receive $11.46/share in cash, lower than BAM's previous offer of $12/share.
- Assuming the completion of both transactions, BAM's commitment would total ~$500M, which it expects to fund through current liquidity.