Brookfield Renewable Update on Its Offer for Western Wind
HAMILTON, BERMUDA -- (Marketwire) -- 02/15/13 --
All amounts in Canadian dollars unless otherwise indicated
Brookfield Renewable Energy Partners L.P. (TSX:BEP.UN) ("Brookfield
Renewable") and WWE Equity Holdings Inc. (the "Offeror") announced
today that, given the positive momentum of the Offeror's all-cash
offer to acquire the common shares of Western Wind Energy Corp.
("Western Wind") for $2.60 per share (the "Offer"), the Offeror is
forming a soliciting dealer group, and has engaged CIBC World Markets
Inc., Scotia Capital Inc. and TD Securities Inc. to act as dealer
managers, to solicit tenders in support of the Offer. The dealer
managers have undertaken to form and manage a soliciting dealer group
comprised of members of the Investment Industry Regulatory
Organization of Canada. Brookfield Renewable will pay to the members
of the soliciting dealer group a fee of $0.02 per Western Wind common
share tendered in support of the Offer that is solicited by a member
of the soliciting dealer group. The fees payable to a soliciting
dealer are subject to the following: the solicitation fee payable in
respect of any single beneficial shareholder shall not be less than
$75.00 or more than $1,500.00 where the number of shares tendered by
such beneficial shareholder is greater than or equal to 2,000 shares.
Fees will only be payable in the event the Offer is completed.
The Offer will NOT be further extended unless the minimum tender
condition is satisfied (50% of the shares held by shareholders
independent of Brookfield Renewable), so shareholders need to act now
to carry the Offer over the finish line and finally realize on their
investment in Western Wind.
How to Tender Shares to the Offer
Western Wind shareholders are urged to tender their shares before it
expires at 5:00 p.m. (EST) on February 21, 2013 by following the
instructions provided in the Offeror's take-over bid circular dated
November 26, 2012, which has been filed on SEDAR.
For further information on the Offer, please contact CST Phoenix
Advisors, Brookfield Renewable's information agent for the Offer, by
toll free phone at 1-800-336-5159 or by email at
Brookfield Renewable Energy Partners (TSX:BEP.UN) operates one of the
largest publicly-traded, pure-play renewable power platforms
globally. Its portfolio is primarily hydroelectric and totals
approximately 5,300 megawatts of installed capacity. Diversified
across 69 river systems and 11 power markets in the United States,
Canada and Brazil, the portfolio generates enough electricity from
renewable resources to power more than two million homes on average
each year. With a virtually fully-contracted portfolio of
high-quality assets and strong growth prospects, the business is
positioned to generate stable, long-term cash flows supporting
regular and growing cash distributions to shareholders. For more
information, please visit www.brookfieldrenewable.com.
Director, Investor Relations
SVP, Communications and Media
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