Brookfield Renewable and GROK Ventures to acquire AGL Energy for $5.7bn.

Brookfield Renewable, a renewable power platform, and GROK Ventures, a private investment company, agreed to acquire AGL Energy, a firm engaged in buying and selling of gas and electricity and related products and services, for $5.7bn. “By combining our access to capital and clean energy expertise, we are capable of helping carbon-intensive businesses transition to more competitive and sustainable futures while making a meaningful contribution to the transition to net zero. By helping businesses such as AGL achieve their net-zero ambitions through the significant build out of clean energy capacity, we can contribute tangible benefits to stakeholders including net-zero GHG emissions, clean power delivered at competitive prices and new jobs in the green economy, all while generating strong returns for our unitholders," Connor Teskey, Brookfield Renewable CEO. On March 7, 2022, AGL Energy has rejected a revised unsolicited, preliminary, non-binding indication of interest from a consortium led by Brookfield Asset Management to acquire 100% of the shares in AGL Energy for $8.25 per share.