February 7, 2018 / 8:54 AM / 3 months ago

Brookfield launches $1.23 billion takeover bid for Saeta Yield

Feb 7 (Reuters) - Brookfield has launched a 995 million euro ($1.23 billion) takeover bid for 100 percent of Spanish renewable energy company Saeta Yield, Saeta said on Wednesday.

The Canadian alternative asset manager set the bid price to 12.20 euros per share, which represents a premium of 5.5 percent compared to Saeta’s Tuesday close.

Saeta shares were up 6.2 percent at 0844 GMT, topping Madrid’s general index.

$1 = 0.8083 euros Reporting by Katarzyna Zajaczkowska; editing by Jason Neely

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