- Canadian investment firm Brookfield Corp. (TSX:BN) is buying the renewable energy division of Banks Group for roughly C$1 billion
- Banks Group is based out of the U.K. and its renewable energy division operates 11 onshore wind farms in Scotland and the north of England
- Earlier this year, Banks Group completed the construction of its 100th wind turbine as part of the development of the new Kype Extension Wind Farm in South Lanarkshire
- Brookfield Corp. last traded at $41.21 per share
Canadian investment firm Brookfield Corp. (TSX:BN) is buying the renewable energy division of Banks Group for roughly C$1 billion.
Banks Group is based out of the U.K. and its renewable energy division operates 11 onshore wind farms in Scotland and the north of England, along with other projects for solar and wind in development. Its businesses also include mining and transport. Earlier this year, Banks Group completed the construction of its 100th wind turbine as part of the development of the new Kype Extension Wind Farm in South Lanarkshire.
In a statement on the Banks Group website, its founder and chairman, Harry Banks said, “I believe that Brookfield’s established position in the renewables industry and the strong cultural fit that exists between both businesses will lead to this acquisition being to the benefit of all parties involved.”
Brookfield Corp. is an owner and operator of real assets. Its operating segments include the asset management business and insurance solutions business.
Brookfield Corp. last traded at $41.21 per share.
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