Status: Upcoming/New Filing
Acquirer: Canada Pension Plan Investment Board
(Canada)
Acquired: Pattern Energy Group Inc. (US)
Value: US$6.1 billion
Industry: Energy
On November 3, 2019, Pattern Energy Group Inc., a US publicly traded
(Nasdaq and TSX: PEGI) vertically integrated renewable energy
company, entered into a merger agreement with Pacific US Inc., an
entity "controlled by Canada
Pension Plan Investment Board ("CPPIB")," and a
wholly owned subsidiary of Pacific US Inc., whereby Pattern Energy
Group Inc. will merge with and into the subsidiary and survive as a
wholly owned subsidiary of Pacific US Inc. (Pattern Energy Group Inc. Form 8-K, Nov. 4, 2019,
SEC Filing.) The acquisition of "100% of Pattern
Energy's outstanding common shares" will have "an
enterprise value of approximately $6.1 billion." (Investor
Presentation, Pattern Energy Group Inc. Form 8-K, Ex-99.1, Nov.
4, 2019, SEC Filing.) The business of Pattern Energy Group
"consists of both (i)