Canada NewsWire
LONGUEUIL, QC , July 21, 2025 /CNW/ - Innergex Renewable Energy Inc. (TSX: INE) ("Innergex") announced today the completion of its previously announced acquisition by La Caisse by way of a plan of arrangement under the provisions of the Canada Business Corporations Act (the "Arrangement").
Pursuant to the terms of the Arrangement, La Caisse has acquired all of the issued and outstanding common shares of Innergex (other than those held by La Caisse and certain members of senior management rolling over (the "Rollover Shareholders")) for a price of $13.75 per common share in cash. All of the issued and outstanding preferred shares Series A and Series C of Innergex were also acquired by La Caisse for $25.00 per preferred share in cash (plus all accrued and unpaid dividends and, in the case of the Series A preferred shares, an amount in cash per Series A preferred share equal to the dividends that would have been payable in respect of such share until January 15, 2026 , which is the next available redemption date). All of the outstanding 4.65% subordinated unsecured convertible debentures of Innergex have been repaid in full upon completion of the Arrangement, including as to principal and accrued and unpaid interest thereon.
As previously announced, La Caisse has syndicated approximately 20% of its invested capital to bring in like-minded investors who share its vision for the next chapter of Innergex's growth.
As part of the Arrangement, certain members of senior management of Innergex, including Mr. Michel Letellier, Innergex's President and Chief Executive Officer, and Mr. Jean Trudel, Innergex's Chief Financial Officer, have rolled over a portion of their common shares and reinvested in the privatized Innergex.
La Caisse has caused to be delivered to Computershare Investor Services Inc. (" Computershare "), the depositary for the Arrangement, sufficient funds to enable it to make payments to Innergex shareholders (other than the Rollover Shareholders) pursuant to the terms of the Arrangement. In accordance with the Arrangement, payment will be made by Computershare to Innergex shareholders (other than the Rollover Shareholders) as soon as practicable following the date hereof.
Letters of transmittal have been mailed to registered shareholders and are also available under the profile of Innergex at www.sedarplus.ca . The letters of transmittal explain how registered shareholders can deposit and obtain payment for their shares. Registered shareholders must return their duly completed letters of transmittal to Computershare in order to receive the consideration to which they are entitled for their shares.
As a result of the completion of the Arrangement, it is expected that the common shares, preferred shares Series A and Series C and the 4.65% subordinated unsecured convertible debentures of Innergex will be delisted from the Toronto Stock Exchange on or about July 22, 2025 . Innergex has applied to cease to be a reporting issuer under the securities legislation of each province of Canada where Innergex is currently a reporting issuer.
About Innergex Renewable Energy Inc.
For 35 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world. Innergex conducts operations in
Canada
,
the United States
,
France
and
Chile
and manages a large portfolio of high-quality assets currently consisting of interests in 92 operating facilities with an aggregate net installed capacity of 3,948 MW (gross 4,901 MW), including 42 hydroelectric facilities, 36 wind facilities, 10 solar facilities and 4 battery energy storage facilities. Innergex also holds interests in 16 projects under development with a net installed capacity of 915 MW (gross 1,537 MW), 5 of which are under construction, as well as prospective projects at different stages of development with an aggregate gross installed capacity totaling 10,288 MW. Its approach to building shareholder value is to generate sustainable cash flows and provide an attractive risk-adjusted return on invested capital. To learn more, visit
innergex.com
or connect with us on
LinkedIn
.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain forward-looking information within the meaning of applicable securities laws ("Forward-Looking Information"), including statements relating to statements regarding: the timing for the delisting from the TSX and for Innergex to cease to be a reporting issuer, and other statements that are not historical facts. Forward-Looking Information can generally be identified by the use of words such as "approximately", "may", "will", "could", "believes", "expects", "intends", "should", "would", "plans", "potential", "project", "anticipates", "estimates", "scheduled" or "forecasts", or other comparable terms that state that certain events will or will not occur. It represents the projections and expectations of Innergex relating to future events or results as of the date of this press release.
For more information on risks and uncertainties, please refer to the "Forward-Looking Information" section of Innergex's Management's Discussion and Analysis for the three months ended March 31, 2025 .
Although Innergex has attempted to identify important risk factors that could cause actual results to differ materially from those contained in Forward-Looking Information, there may be other risk factors not presently known or that Innergex presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such Forward-Looking Information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on Forward-Looking Information, which speaks only as of the date made. The Forward-Looking Information contained in this press release represents Innergex's expectations as of the date of this press release (or as the date they are otherwise stated to be made) and are subject to change after such date. However, Innergex disclaims any intention or obligation or undertaking to update or revise any Forward-Looking Information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. All of the Forward-Looking Information contained in this press release is expressly qualified by the foregoing cautionary statements.
SOURCE Innergex Renewable Energy Inc.
