Deals
TerraForm Power Said to Plan September Share Auction
- Sale follows Brookfield-Appaloosa interest in Class B shares
- Terms may give TerraForm effective veto over potential buyer
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TerraForm Power Inc., the wind-and-solar company formed by the bankrupt SunEdison Inc., is setting up a formal auction to sell itself after Brookfield Asset Management Inc. attempted to take control of the company, according to two people with knowledge of the matter.
TerraForm plans to launch the auction in September, said the people, who asked not to be named because the preparations are confidential. SunEdison is cooperating with TerraForm on the sales process, which will be run separately from the one SunEdison is planning for its other wind and solar assets, the people said.