The Caisse de dépôt et placement du Québec and Brookfield are acquiring renewable energy firm Boralex Inc. in a take-private deal, for a total equity value of roughly $3.8 billion.
Together, Brookfield and the Caisse will acquire all issued and outstanding Class A common shares in Boralex at a price of $37.25 in cash per share, indicating a 31.8 per cent premium for the March 20, 2026, closing price.
The deal implies a total enterprise value for Boralex of nearly $9 billion or $9.7 billion on a combined basis, including project and corporate-level indebtedness.
The Caisse is Boralex’s current largest shareholder with about 15 per cent of the outstanding common shares. It will invest in the resulting private company, resulting in a pro forma ownership of 30 per cent.
“This transaction reflects our strong confidence in this renewable energy leader that is deeply rooted in Québec and well positioned to pursue growth across North America and internationally,” said Kim Thomassin, executive vice-president and head of Québec at the Caisse, in a press release.
In other news, the Ontario Teachers’ Pension Plan is acquiring four fully-let multi-family residential assets in southern Germany.
The deal represents the first residential investment in Germany under the investment organization’s new joint venture with DW Effectum Residential. The financial details of the transaction weren’t disclosed.
“We focus on markets where active asset management and local expertise create lasting value and DWE’s market knowledge and operational capability make them the right partner to enhance asset performance and resident outcomes over the long term,” said Jenny Hammarlund, executive managing director of real estate at the Ontario Teachers’, in a press release.