SunEdison is looking to offload its class B shares of Terraform Power. This may not be completely voluntary but due to significant holdings by Appaloosa and Brookfield of the stock. The question I have about this is more nuanced than just selling the shares. Keep in mind that SunEdison probably had to make some deals in order to create the yieldco in the first place. The class B shares had something to do with that including making sure the a knowledgeable asset manager was taking care of the projects. With new ownership trying to take that responsibility over, what leverage will the offtakers and other contractual counterparties have over the transfer which could be construed as a change of control requiring some consents.
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Opinion
Have a great day!
Yann