Key Developments: Brookfield Asset Management Inc (BAM)
38.12USD
17 May 2013
$-0.03 (-0.08%)
$38.15
$38.15
$38.22
$37.72
726,118
1,358,958
$39.16
$29.98
Latest Key Developments (Source: Significant Developments)
Brookfield Asset Management Inc Declares Quarterly Dividend
Brookfield Asset Management Inc announced that Board of Directors declared a quarterly dividend of $0.15 per share (representing $0.60 per annum), payable on August 31, 2013, to shareholders of record as at the close of business on August 1, 2013. The Board also declared all of the regular monthly and quarterly dividends on its preferred shares. Full Article
Brookfield Asset Management Inc Announces Normal Course Issuer Bid
Brookfield Asset Management Inc announced that it has received approval from the Toronto Stock Exchange (TSX) for proposed normal course issuer bid to purchase up to 53,571,157 Class A Limited Voting Shares, representing 10% of the public float of Brookfield's outstanding Class A Limited Voting Shares. Purchases under the bid will be made through the facilities of the TSX, the New York Stock Exchange (NYSE) and any other applicable stock exchange. The period of the normal course issuer bid will extend from April 23, 2013 to April 22, 2014, or an earlier date should Brookfield complete purchases. Brookfield will pay the market price at the time of acquisition for any Class A Limited Voting Shares purchased. All Class A Limited Voting Shares acquired by Brookfield under this bid will be cancelled. Under current normal course issuer bid that commenced on April 23, 2012 and expires on April 22, 2013, Brookfield purchased 2,004,122 Class A Limited Voting Shares at an average price of USD36.26 per share through open market purchases on the NYSE. Brookfield Asset Management Inc. is a global alternative asset manager with over $175 billion in assets under management. Full Article
Hochtief AG Gets Bids For Airport Unit; Fraport Frankfurt Airport Services Worldwide AG, Brookfield Asset Management Inc And Others Put In Offers For Asset-Reuters
Reuters reported that Hochtief AG, controlled by Spain's Acs Actividades de Construccion y Servicios SA (ACS), has received bids for its airport unit. Hochtief, which halted the sale of its six airport stakes early last year when it was unable to fetch a price of EUR1.5 billion ($2 billion), is trying again to sell its stakes in airports in Duesseldorf, Hamburg, Budapest, Sydney and Tirana. It has for now given up on looking for a buyer for Athens airport. A source representing a potential buyer of the assets has said Hochtief could now fetch as much as EUR1.2 billion in the sale, which Deutsche Bank is organising. Fraport Frankfurt Airport Services Worldwide AG, the operator of Frankfurt airport, Global Infrastructure Partners Ltd (GIP), which owns London's City and Gatwick airports, Canada's Brookfield Asset Management Inc, and insurer Allianz SE have all put in offers. Full Article
Brookfield Asset Management Inc Brazilian unit on SEC Radar-Reuters
Reuters reported that the U.S. Securities Regulator is looking into a bribery charge leveled against the Brazilian unit of Canada's Brookfield Asset Management Inc, the Wall Street Journal reported. An SEC spokesman declined to comment to the Journal. Full Article
Brookfield Asset Management Inc Declares Quarterly Dividend
Brookfield Asset Management Inc announced that the Board of Directors declared a quarterly dividend of USD0.15 per share (representing USD0.60 per annum), payable on May 31, 2013, to shareholders of record as at the close of business on May 1, 2013. This represents an increase of 7% over the current dividend rate. The Board also declared all of the regular monthly and quarterly dividends on preferred shares. Full Article
Brookfield Asset Management Inc Acquires Portfolio Of Apartment Communities
Brookfield Asset Management Inc announced the acquisition of portfolio of 19 apartment communities with 4,892 units located in North Carolina, South Carolina and Virginia for a total of $414 million from Babcock & Brown Residential. Babcock & Brown was advised by Robert W. Baird & Co. Full Article
Brookfield Asset Management Inc Announces To Issue CAD350 Million Of Medium Term Notes
Brookfield Asset Management Inc announced that it has agreed to issue CAD350 million aggregate principal amount of medium term notes (notes), including CAD175 million principal amount of a re-opening of notes with a March 2023 maturity (the March 2023 Notes) and C$175 million principal amount of a re-opening of notes with an April 2019 maturity (the April 2019 Notes).The company intends to use the net proceeds of the issue to redeem all of its outstanding 8.95% notes that mature on June 2, 2014, to refinance indebtedness that will mature in October 2013 and for general corporate purposes. The notes are being offered through a syndicate of agents led by Scotia Capital Inc., CIBC World Markets Inc. and RBC Capital Markets. Full Article
Brookfield Asset Management Inc Announces Medium Term Note Offering
Brookfield Asset Management Inc announced that it is considering a medium term note offering pursuant to its base shelf prospectus. If offering is priced, the Company intends to use the net proceeds of the issue to redeem all of its outstanding 8.95% notes that mature on June 2, 2014, to refinance indebtedness that will mature in October 2013 and for general corporate purposes. Full Article
Brookfield Asset Management Inc Completes $886 Million Acquisition Of Verde Realty
Brookfield Asset Management Inc announced that it has closed the acquisition of a majority ownership position in Verde Realty (Verde), positioning the Company for growth as an owner, operator and developer of industrial distribution facilities in the United States and Mexico. Through this transaction, an investment vehicle managed by Brookfield will control approximately 81% of the common equity in Verde, with the remaining equity retained primarily by some existing Verde shareholders. Full Article
Brookfield Asset Management Inc Completes CAD200 Million Preferred Share Issue
Brookfield Asset Management Inc announced the completion of previously announced 4.85% perpetual Class A Preference Shares, Series 36 issue in the amount of CAD200,000,000. Brookfield issued 8,000,000 Preferred Shares at a price of CAD25.00 per share, for total gross proceeds of CAD200,000,000. The Preferred Shares will commence trading on the Toronto Stock Exchange this morning under the ticker symbol BAM.PF.C. Full Article
Brookfield Asset Management FFO jumps on housing business
May 9 - Brookfield Asset Management's funds from operation (FFO), a measure of cash flow for real estate management companies, rose 34 percent in the first quarter on strong North American housing-related businesses.
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