Brookfield Renewable Shareholders Approve Corporate Simplification Scheme

MT Newswires Live10-15

Brookfield Renewable (BEPC) shareholders voted at a special meeting to approve a proposed corporate structure simplification related to Brookfield Renewable Partners (BEP), the company said Wednesday.

The board has determined that the simplification is in the best interests of Brookfield Renewable Partner, the company said.

Approximately 66% of outstanding exchangeable shares were represented at the meeting, and about 70% of votes cast by holders of BEPC's exchangeable shares supported the resolution, while all votes cast by holders of its Class B multiple voting shares were in favor, Brookfield Renewable said.

Brookfield Renewable Partners unitholders will vote on the proposed simplification at a special meeting scheduled for Oct. 29, the company said. If unitholders approve the transaction and the required court order is obtained, Brookfield Renewable expects to complete the simplification in Q4 2026.

Brookfield Renewable expects the transaction to be tax-deferred for Canadian and US investors and to be completed without meaningful cost to the business.

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