Brookfield Infrastructure Reports $455M Equity Offer, Will Buy 45% of Avn Tollroad
Brookfield Infrastructure (NYSE: BIP) today announced a number of strategic initiatives, comprised of:
-- an agreement, together with its institutional partners, to acquire the remaining 45% of the Autopista Vespucio Norte ("AVN") toll road, a key artery in the ring road network surrounding Santiago, Chile;
-- an agreement to acquire an 85% interest in Inexus Group ("Inexus"), a regulated distribution utility in the UK;
-- the issuance of 9,680,000 L.P. units in the U.S. and Canada and the concurrent private placement of 3,860,000 redeemable partnership units to Brookfield Asset Management Inc. ("Brookfield") (NYSE/TSX/Euronext: BAM) for aggregate gross proceeds of $445,071,200; and
-- plans to explore strategic alternatives to divest some of its timber and certain non-core assets.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.