Brookfield Asset Management $1.41 billion acquisition of SunEdison yieldcos

Overview:

• Canadian company Brookfield Asset Management has acquired one yieldco and taken a 51% stake in another from SunEdison.
• Yieldcos are publicly traded bundles of operating assets.
• Brookfield acquired yieldco TerraForm Global for $787 million and its stake in yieldco TerraForm Power for $622 million.
• Brookfield is also going to take on $455 million of TerraForm Global's debt.
• Morgan Stanley, Centerview Partners and AlixPartners acted as financial advisers for TerraForm Power.
• Greentech Capital Partners, Centerview Partners and AlixPartners acted as financial advisers for TerraForm Global.
• JPMorgan and Houlihan Lokey served as financial advisers for SunEdison.
• The transactions are expected to close in the second half of 2017.

Kurt Stumpo - Journalist