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Brookfield Asset Management takes 12.13 pct stake in SunEdison unit

Published 2016-06-29, 02:26 p/m
© Reuters.  Brookfield Asset Management takes 12.13 pct stake in SunEdison unit
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June 29 (Reuters) - Brookfield Asset Management Inc
BAMa.TO reported a 12.13 percent stake in TerraForm Power Inc
TERP.O , one of the two units of bankrupt solar company
SunEdison Inc SUNEQ.PK .
The Canadian asset manager said it acquired 11.1 million
Class A common shares of TerraForm with economic exposure to
about 24.82 percent shares under swap agreements.
Brookfield also said it was trying to buy shares owned by
SunEdison.
TerraForm's shares rose about 11 percent to $9.74.
SunEdison, once the fastest-growing U.S. renewable energy
company, filed for Chapter 11 bankruptcy protection in April
after a short-lived but aggressive binge of debt-fueled
acquisitions proved unsustainable.
SunEdison's units, TerraForm Power and TerraForm Global Inc
GLBL.O , were not part of the bankruptcy.

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