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Brookfield in Deal Talks for TerraForm Companies

Canada’s Brookfield Asset Management has floated the possibility of a takeover of both TerraForm Power Inc. and TerraForm Global Inc.

In a Thursday filing with the U.S. Securities and Exchange Commission, Brookfield said it met Wednesday with representatives of the boards of the TerraForm companies to discuss the possibility of a deal.

According to the filing, Brookfield is considering either purchasing the shares of both companies from their stockholders, or buying the companies—the so-called “yieldcos” that helped fuel the now-bankrupt SunEdison Inc.’s boom—outright for cash.

A possible purchase price wasn’t disclosed.

The Canadian investment firm previously said it was interested in taking charge of TerraForm Power, which owns SunEdison-created projects in the U.S., Canada, U.K. and Chile. Brookfield avoided entering a quiet competition for TerraForm Power due to restrictions on it as a large shareholder, according to people familiar with the matter.

Refusal to enter the competition, however, didn’t signal Brookfield had lost interest.

Thursday’s revelation that Brookfield is offering to take on the TerraForm...


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