Brookfield Agrees to Settle $3.3 Billion Terraform Deal Case (1)

Brookfield Asset Management Inc. has an agreement in principle to end litigation challenging its $3.3 billion buyout of TerraForm Power Inc., according to a court filing Monday.

The alternative asset manager and the pension fund leading the lawsuit have signed a term sheet pledging their “reasonable best efforts to negotiate and submit a proposed stipulation of settlement” within 30 days, the fund said in a letter filed with Delaware’s Chancery Court.

The filing scuttled a court hearing planned for Tuesday on the pension fund’s bid to compel documents, including from Brookfield’s M&A lawyers at Kirkland & Ellis LLP. A ...