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Brookfield agrees to sell off Neoen energy assets to allay Australian competition concerns

By James Panichi ( October 31, 2024, 03:07 GMT | Insight) -- An eleventh-hour decision by Brookfield to accept structural, rather than behavioral undertakings has allowed the global investment giant to clear an Australian regulatory hurdle that could have upended the Canadian’s 6.1 billion euro ($6.63 billion) play for French renewables company Neoen. The Australian Competition & Consumer Commission said it wouldn’t oppose the deal, after Neoen agreed to a court-enforceable undertaking that would see the divestment of a variety of the company’s assets in the southeastern Australia state of Victoria.Brookfield’s eleventh-hour decision to accept structural, rather than behavioral undertakings has allowed the global investment giant to clear an Australian regulatory hurdle that could have upended the Canadian’s 6.1 billion euro ($6.63 billion) play for French renewables company Neoen....

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