Best of 2023: Brookfield bucks industry mega M&A trends
Canadian investment giant Brookfield acquired Duke Energy’s unregulated utility scale commercial renewables business at an enterprise value of approximately $2.8 billion – a deal that showed they were the exception to the mega M&A rules this year.
As senior debt pricing surged, and lenders began to impose stricter lending requirements, M&A deals stalled in the renewables space. But, not for Brookfield.
A multi-billion-dollar balance sheet and deep relationships with the largest banking groups meant it could get mega deals over the line while others waited for a more favorable environment. Only those with the deepest pockets able to get the largest renewables M&A deals through to close in 2023.
Click HERE to read our analysis of the deal as we look back at the best of PFR in 2023.