Milbank LLP advised Brookfield in connection with the successful acquisition of Boralex Inc. by Brookfield, together with its institutional partners including Brookfield Renewable Partners, and La Caisse (formerly CDPQ), by way of a plan of arrangement under the provisions of the Canada Business Corporations Act.
Pursuant to the terms of the arrangement, Brookfield and La Caisse acquired all of the issued and outstanding class A common shares of Boralex for a price of $37.25 per share in cash. The shares were delisted from the Toronto Stock Exchange on August 17, 2026.
Boralex, an independent renewable energy producer in North America and Europe with 3,822 MW in installed capacity, will operate independently following close of the acquisition. Similar to the benefits realized across Brookfield’s other platforms, the investment from Brookfield and La Caisse will help advance Boralex’s mission of delivering affordable, renewable energy and enable it to meet growing demand driven by electrification, reindustrialization, digitalization, and energy security imperatives.
The Milbank team was led by Global Corporate/M&A partner and co-head of Milbank’s Global Infrastructure practice John Franchini and Global Corporate/M&A partner Aaron Stine with special counsel Shannon Footer and associates Lisa Koo, Michaela Fleischer and Malcolm Steinberg. The team also included Global Project, Energy and Infrastructure Finance partner Carolina Walther-Meade and associates Samuel Smith and Jacob Fusek.
