The transaction will result in the division of
A special meeting of Shareholders has been called for
A copy of the Arrangement Agreement will be available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
Key Highlights
Following completion of the Arrangement and related transactions:
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Brookfield Corporation and the Manager will respectively own 75% and 25% of our asset management business; -
the Class A Shares of the Corporation are expected to trade on the
New York Stock Exchange (the “NYSE”) and theToronto Stock Exchange (the “TSX”) under the new ticker symbol “BN”; -
the Manager’s class A limited voting shares (“Manager Class A Shares”) are expected to trade on the NYSE and TSX under the ticker symbol “BAM”;
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the Arrangement will generally occur on a tax-deferred basis for
Brookfield Corporation and shareholders resident inCanada andU.S. ; -
each holder of Class A Shares will receive 1 Manager Class A Share for every 4 Class A Shares held;
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each holder of Series 8 and 9 class A preference shares will receive a fraction of a Manager Class A Share and a new
Brookfield Corporation class A preference share for every Series 8 or 9 preference share held; and -
Brookfield Corporation , the Manager and certain of their affiliates will enter into agreements designed to enable them to preserve mutual benefits and competitive advantages.
Approvals
The Arrangement is subject to the satisfaction of certain conditions, including Shareholder approval at the Meeting, approval of the
About
Brookfield Asset Management Inc. (NYSE: BAM, TSX: BAM.A) is a leading global alternative asset manager with over $750 billion of assets under management across real estate, infrastructure, renewable power and transition, private equity and credit. Brookfield owns and operates long-life assets and businesses, many of which form the backbone of the global economy. Utilizing its global reach, access to large-scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world—including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.
For more information, please visit our website at www.brookfield.com or contact:
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Forward Looking Statements
Information in this press release that is not a historical fact is “forward-looking information”. This press release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, and “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions. Forward-looking statements reflect current estimates, beliefs and assumptions, which are based on Brookfield’s perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. Brookfield’s estimates, beliefs and assumptions are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change.
This press release contains forward-looking statements concerning Brookfield’s beliefs on certain benefits of the Arrangement and the anticipated tax treatment of the proposed transaction for
Factors that could cause actual results, performance, achievements or events to differ from current expectations include, among others, risks and uncertainties related to: obtaining approvals, rulings, court orders and consents, or satisfying other requirements, necessary or desirable to permit or facilitate completion of the Arrangement (including regulatory and shareholder approvals); future factors that may arise making it inadvisable to proceed with, or advisable to delay, all or part of the Arrangement; the potential for significant tax liability for a violation of the tax-deferred spinoff rules; the potential benefits of the Arrangement; and business cycles, including general economic conditions.
Certain risks and uncertainties specific to the proposed Arrangement,
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