Innergex Enters into Definitive Agreement to be Acquired by CDPQ for $13.75 per share
- Editor
- Feb 25
- 2 min read
Whats Happening:
CDPQ is set to acquire Innergex Renewable Energy Inc. for $13.75 per common share in cash, representing a 58% premium over the current share price. The transaction, valued at $10.0 billion enterprise value, aims to establish a Quebec-based renewable power leader positioned for accelerated growth. Hydro-Québec, Innergex's largest shareholder, has agreed to vote in favor of the deal, which is expected to close by Q4 2025.
Key Moves:
CDPQ to acquire Innergex for $13.75 per common share in cash
Transaction represents a total enterprise value of $10.0 billion
Deal expected to close by Q4 2025, subject to approvals
By The Numbers:
58% premium over Innergex's current share price of $8.71
80% premium over 30-day volume weighted average price of $7.66
Hydro-Québec owns approximately 19.9% of outstanding Common Shares
Key Quotes:
"We are proud to support Innergex as it embarks on this new chapter, guided by a long-term vision, access to capital, and readiness to seize growth opportunities," - Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ
"Today's announcement represents a pivotal moment for our company," - Monique Mercier, Chair of the Special Committee and of the Board of Innergex
"As we transition from being a publicly traded company to a privately held entity, this change marks an exciting new chapter in our journey," - Michel Letellier, President and Chief Executive Officer of Innergex
Bottom Line:
The acquisition of Innergex by CDPQ represents a significant move in the renewable energy sector, creating a Quebec-based powerhouse with enhanced growth potential. The deal offers Innergex shareholders immediate liquidity and a substantial premium, while positioning the company for long-term success under CDPQ's ownership. This transaction underscores CDPQ's commitment to supporting essential businesses in Quebec and advancing the energy transition.
Comments