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Brookfield Renewable Power Fund and Brookfield Renewable Power Inc. Announce Secondary Offering of Fund Units
Brookfield Renewable Power Fund and Brookfield Renewable Power Inc. Announce Secondary Offering o...
About this update from Brookfield Renewable Partners Lp
[{"type":"text","content":"\n\n\n\n Oct. 13, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES  \n\n\nTORONTO AND GATINEAU, QC, Oct. 13 /CNW Telbec/ - Brookfield Renewable\n Power Fund (the "Fund") and Brookfield Renewable Power Inc. ("BRPI")\n today announced a bought-deal secondary offering, with a syndicate of\n underwriters led by CIBC and Scotia Capital Inc., through which BRPI,\n the selling unitholder, has agreed to sell 7,000,000 of its Fund units\n at an offering price of $21.85 per unit. The Underwriters have been granted an over-allotment option to\n purchase up to an additional 1,000,000 units at the offering price,\n under the same terms, exercisable for a period of 30 days from closing\n of the Offering.\n\n\nBRPI and its affiliates currently own 45,190,838 Fund units or\n approximately 41.5% of the Fund's units on a fully-exchanged basis.\n Upon the completion of the offering, but before giving effect to the\n over-allotment option, it is anticipated that BRPI will own 38,190,838\n Fund units directly and indirectly, representing approximately 35.1% of\n the Fund's units on a fully-exchanged basis, and remain its largest\n unitholder.\n\n\nThe proceeds from the offering will provide BRPI with additional\n liquidity.\n\n\nThe Fund will continue to be administered and managed by BRPI and remain\n Brookfield Asset Management Inc.'s exclusive vehicle for Canadian\n contracted opera...