BORALEX INC - TRANSACTION SUGGESTS EQUITY VALUATION OF APPROXIMATELY $3.8 BILLION
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 25 2026
0mins
Source: moomoo
Boralex Inc. Deal: Boralex Inc. has completed a significant deal that impacts its equity value.
Equity Value Implication: The deal implies an equity value of approximately $3.8 billion for the company.
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Analyst Views on BLX
About BLX
Banco Latinoamericano de Comercio Exterior, S.A. (the Bank) is a specialized multinational bank. The Bank is established to support the financing of trade and economic integration in Latin America and the Caribbean. The Company operates in two segments: Commercial and Treasury. The Bank's Commercial segment incorporates all of the Bank's financial intermediation and fees generated by the commercial portfolio activities, such as origination of bilateral and syndicated credits, short- and medium-term loans, acceptances and contingent credits. The Bank's Treasury segment incorporates deposits in banks and all of the Bank's trading assets, securities available-for-sale and held-to-maturity, and the balance of the investment funds. The Bank serves a range of sectors, including oil and gas, agribusiness, food processing and manufacturing. Its products and services are categorized into three main areas: Financial Intermediation Business, Structuring and Syndications Business and Treasury.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Shareholder Structure: Since its listing on the NYSE in 1992, Bladex's shareholders include central banks and state-owned banks from 23 Latin American countries, commercial banks, and financial institutions, highlighting its significant position in the regional financial market.
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- Diverse Shareholder Structure: Since its listing on the NYSE in 1992, Bladex's shareholders include central banks and state-owned banks from 23 Latin American countries, highlighting its significant position and influence in the regional financial market.
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- Diverse Growth Catalysts: The company anticipates enhancing cash flow per share by 4% to 6% annually through higher-rate PPAs and approximately $850 million in new clean power investments, recently signing a $3 billion hydropower supply deal with Google, further solidifying its market position.
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See More
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- Shareholder Structure Change: La Caisse, currently the largest shareholder with about 15% of shares, will increase its stake to 30% post-acquisition, while Brookfield will hold the remaining shares, enhancing both companies' leadership in the renewable energy market.
- Market Strategy Intent: The acquisition will allow Boralex to operate as a private entity while maintaining its headquarters in Québec, Canada, providing immediate liquidity for shareholders and ensuring certainty amidst public market volatility, while supporting Boralex's growth and decarbonization efforts.
- Advisory Teams: Boralex's financial advisors include National Bank Capital Markets and RBC Capital Markets, while Brookfield is advised by BMO Capital Markets, and La Caisse is supported by CIBC Capital Markets, ensuring a smooth transaction process.
See More
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- Enterprise Value Assessment: The total enterprise value of the transaction is $9.0 billion, or $9.7 billion on a combined basis, reflecting a 13 times multiple of the expected 2026 EBITDA, showcasing Boralex's strong potential in the renewable energy sector.
- Shareholder Support: La Caisse, Boralex's largest shareholder, has agreed to support the transaction and increase its ownership stake to 30% post-transaction, providing robust capital support for the company's future growth.
- Strategic Development: The transaction will accelerate the execution of Boralex's 2030 strategic plan, enhancing its leadership position in core markets while leveraging collaboration with Brookfield to improve its technological and operational capabilities in renewable energy.
See More
