Brookfield Renewable Reminds Shareholders of Western Wind to Tender
HAMILTON, BERMUDA -- (Marketwire) -- 03/04/13 --
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") remind
shareholders of Western Wind Energy Corp. ("Western Wind" or the
"Company") that Brookfield Renewable's all-cash offer (the "Offer")
will expire at 5:00 p.m. (EST) on March 7, 2013.
On February 21, 2013, Brookfield Renewable announced that the Offeror
had taken up 35,443,025 common shares of Western Wind, bringing its
ownership to 46,767,375 common shares, or 66.1% of the issued and
outstanding common shares of Western Wind.
Those Western Wind shareholders who have not yet tendered their
common shares are urged to do so before the expiry time. If
shareholders do not tender to the Offer before the expiry time, their
shares will be acquired by the Offeror under either a compulsory
acquisition pursuant to the provisions of British Columbia corporate
law or a subsequent acquisition transaction as described in the
Offeror's November 26, 2012 take-over bid circular. In either case,
the consideration payable will be $2.60 in cash per share of Western
Wind (the same as under the Offer). It could take the Offeror
approximately two months to complete such a second stage transaction
so shareholders should tender now if they want to receive their
consideration in the short term.
Brookfield Renewable will continue to pay to the members of its
soliciting dealer group a broker fee for common shares tendered in
support of the Offer prior to the expiry time that are solicited by a
member of the soliciting dealer group. No such fee will be payable to
brokers by Brookfield Renewable for common shares acquired during the
second stage transaction.
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 March 7, 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 more
than 5,600 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
Brookfield Renewable Energy Partners L.P.
Director, Investor Relations
SVP, Communications and Media
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