Business
Brookfield Renewable Power Fund Announces Corporate Conversion Details
Brookfield Renewable Power Fund Announces Corporate Conversion Details
About this update from Brookfield Renewable Partners Lp
[{"type":"text","content":"\n\n\n\n Oct. 4, 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\nProvides Update on Q3 Hydro Generation\n\nGATINEAU, QC, Oct. 4 /CNW Telbec/ - (BRC.UN) - Brookfield Renewable Power Fund (the "Fund") today provided additional details on its proposed conversion from an income trust to a corporation.\nAs previously indicated, the Fund plans to convert from an income trust to a corporate structure in light of tax changes to income trusts that become applicable January 1, 2011. The conversion is expected to enhance long-term access to capital, improve the comparability of the company to its peers, broaden the potential investor base, and improve tax planning. Pending unitholder, court, regulatory and other approvals, the conversion is expected to become effective on November 30, 2010.\nThe conversion will be completed pursuant to a Plan of Arrangement under the Canada Business Corporations Act. Through a series of steps and upon completion of the conversion, Fund unitholders will receive one common share of the resulting dividend-paying public corporation, named Brookfield Renewable Energy Corporation, for each unit of the Fund previously held.\n"As we have indicated in the past, the Fund's conversion is not expected to have a material effect on its business model, distributions, operations or growth strategy," said Richard Legault, President and Chief Executive Officer of Brookfield Renewable Power Fund. Our core strategy of owning and operating high-quality, rene...