Brookfield Renewable Acquires Over 90% of Western Wind Shares
HAMILTON, BERMUDA -- (Marketwire) -- 03/07/13 --
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") today
announced that the Offeror has taken up an additional 21,174,384
common shares of Western Wind Energy Corp. (TSX VENTURE:WND)
("Western Wind" or the "Company") pursuant to its all-cash offer to
acquire the common shares of Western Wind for $2.60 per share (the
"Offer"). Brookfield Renewable will now own 67,941,756 common shares
of Western Wind representing approximately 93% of the issued and
outstanding common shares.
Information for Western Wind Shareholders
As the Offeror has acquired more than 90% of the outstanding common
shares of Western Wind subject to the Offer, it intends to use the
compulsory acquisition provisions under British Columbia corporate
law to acquire the remaining common shares of Western Wind. The
Offeror expects to mail a notice of compulsory acquisition to all
remaining shareholders shortly. The Offeror further intends to cause
the common shares of Western Wind to be delisted from the TSX Venture
Exchange and to cause Western Wind to cease to be a reporting issuer
under applicable securities laws as soon as possible.
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
Investor Contact: Brookfield Renewable Energy Partners L.P.
Director, Investor Relations
Media Contact: Brookfield Renewable Energy Partners L.P.
SVP, Communications and Media
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