Brookfield to Acquire 19.7% Indirect Stake in Duke Energy Florida for $6B

Iberdrola Acquires Remaining 18.4% of Avangrid for $2.6 Billion

May 20, 2024

Energy

Avangrid has entered into a definitive agreement with Iberdrola under which Iberdrola will acquire the remaining 18.4% of Avangrid shares it does not currently own for $35.75 per share in an all-cash transaction. The merger will make Avangrid a wholly owned subsidiary of Iberdrola, with closing expected in the fourth quarter 2024 subject to customary conditions and regulatory approvals.

Brookfield Renewable Acquires Urban Grid for $650M

January 26, 2022

Renewable Energy

Brookfield Renewable acquired clean power developer Urban Grid and its pipeline of approximately 20,000 MW (13,000 MW solar and 7,000 MW storage) across 12 U.S. states for $650 million. The deal roughly triples Brookfield Renewable's U.S. development pipeline and Urban Grid will continue to operate under its brand as an independent power producer (IPP).

Brookfield Infrastructure to acquire Colonial Enterprises (Shell stake)

July 31, 2025

Transportation

Shell Midstream Operating LLC agreed to sell its 16.125% interest in Colonial Enterprises, Inc. to Colossus AcquireCo LLC, a wholly owned subsidiary of Brookfield Infrastructure Partners L.P., for $1.45 billion. The broader transaction involved Brookfield acquiring Colonial from all co-owners, with Shell divestment expected to close in Q4 2025; the Shell sale was later reported as completed in July 2025.

Brookfield to Acquire Remaining 26% Stake in Oaktree for About $3 Billion

October 13, 2025

Financial Services

Brookfield Asset Management (BAM) and Brookfield Corporation (BN) have announced a proposed transaction in which Brookfield will acquire the remaining 26% interest it does not already own in Oaktree, taking Oaktree to 100% ownership. The deal is valued at about $3 billion and is expected to close in the first quarter of 2026, subject to regulatory approvals and customary closing conditions.

Cameco and Brookfield Acquire Westinghouse Electric Company

November 3, 2023

Energy

Cameco and Brookfield (with Brookfield Renewable Partners and institutional partners) have completed their joint acquisition of Westinghouse Electric Company after receiving required regulatory approvals, with the transaction closing on or about November 7, 2023. Cameco will finance its share using a US$600 million term loan and available cash; the deal transfers ownership of Westinghouse (a leading nuclear technology and services provider headquartered in Cranberry Township, Pennsylvania) from Brookfield Business Partners to the new investor group.

Spire Acquires Duke Energy’s Piedmont Natural Gas Tennessee Business for $2.48 Billion

July 29, 2025

Energy

Duke Energy has agreed to sell its Piedmont Natural Gas Tennessee local distribution company business to Spire Inc. for $2.48 billion in cash. The transaction is expected to close in Q1 2026, pending customary regulatory approvals, including Tennessee Public Utility Commission approval.