Brookfield Corporation, through its renewable power and transition business and institutional partners, sold 8,600,000 common shares in TransAlta Corporation. The shares were sold on the Toronto Stock Exchange for an aggregate gross cash consideration of approximately C$168,990,000, at a price of C$19.65 per common share.
Prior to this transaction, Brookfield owned or controlled an aggregate of 35,523,345 common shares, representing approximately 11.9% of the issued and outstanding shares of TransAlta. This sale reduces Brookfield's stake in the company.
This divestiture represents a capital recycling initiative, allowing Brookfield to generate significant cash proceeds. The funds can be redeployed into other strategic investments or used for general corporate purposes, aligning with Brookfield's active portfolio management strategy.
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