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Tuesday, December 16, 2014

Boralex offers $343 million for Enel Green Power French unit, (TSE: BLX.TO)

Canadian power-producer Boralex Inc has offered to purchase Enel Green Power's (EGP) French business for around $343 million, as the Italian company sheds more of its European business to focus on emerging markets.In a statement late on Monday, Boralex said it expected to become the largest independent wind power producer in France following the deal, with an installed capacity of 455 megawatts.A spokeswoman for EGP confirmed the company had received an offer from Boralex but gave no further details. The company's board is expected to meet in coming days to discuss the offer.EGP, 69 percent owned by Italy's biggest utility Enel SpA , previously said it expected to sell its wind power assets in France by the end of this year.

Boralex Inc. (Boralex) is an electricity producer whose business is the development and operation of renewable energy power stations. Shares of BLX traded higher by 0.3% or $0.04/share to $13.41. In the past year, the shares have traded as low as $10.53 and as high as $14.99. On average, 48648 shares of BLX.TO exchange hands on a given day and today's volume is recorded at 29962.