Valener Inc. agrees to be acquired by Noverco Inc., for a total enterprise value of approximately $1.2 billion

April 12, 2019

On March 27, 2019, Valener Inc (“Valener”) (TSX: VNR, VNR.PR.A), the public investment vehicle of Énergir, L.P., Noverco Acquisition Inc. and Noverco Inc. (“Noverco”), the controlling partner of Énergir, L.P., announced that they have entered into a definitive agreement for Noverco to acquire indirectly all of the issued and outstanding common and preferred shares of Valener for a total enterprise value of approximately $1.2 billion, including the assumption of existing indebtedness.

Through its investment in Énergir, L.P., Valener offers its shareholders a solid investment in a diversified and largely regulated energy portfolio in Québec and Vermont. As a strategic partner, Valener, on the one hand, contributes to Énergir, L.P.’s growth, and on the other hand, invests in wind power production in Québec alongside Énergir, L.P. Valener favours energy sources and uses that are innovative, clean, competitive and profitable.

Miller Thomson LLP is advising Valener with a team led by Louis Clément (Corporate/M&A) and including Bruno Caron, Pierre Soulard and Jean Bernard Ricard (Capital Markets & Securities), Yves Robillard and Lucie Lanctuit (Litigation), Nathalie Marchand (Corporate Tax) and Eric Dufour (Competition).