Key Developments: Brookfield Asset Management Inc (BAMa.TO)

BAMa.TO on Toronto Stock Exchange

46.35CAD
17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Brookfield Asset Management Inc's Private Equity Group Acquires Canadian Cold Storage Business
Monday, 3 Jun 2013 05:05pm EDT 

Brookfield Asset Management Inc's Brookfield Capital Partners III announced that it has completed the acquisition of the Canadian logistics operations of Millard Refrigerated Services, launching a leading national cold storage company, Brookfield Cold Storage.  Full Article

Brookfield Asset Management Inc Announces Exercise of Underwriters' Option
Tuesday, 28 May 2013 05:19pm EDT 

Brookfield Asset Management Inc announced that, in connection with its recently-announced public offering of 6,000,000 4.90% perpetual Class A Preference Shares, Series 37 (the Preferred Shares), the underwriters have exercised their option (the Underwriters' Option) to purchase an additional 2,000,000 Preferred Shares at a price of CAD25.00 per share. Brookfield will receive additional gross proceeds of CAD50,000,000 from the exercise of the Underwriters' Option, increasing the total size of the offering to CAD200,000,000. Closing of the Underwriters' Option is expected to occur concurrent with the closing of the public offering on or about June 13, 2013. Subject to fulfilling the listing requirements of the Toronto Stock Exchange, the Preferred Shares will begin trading on the TSX under the symbol BAM.PF.D upon closing of the offering.  Full Article

Brookfield Asset Management Inc To Issue CAD150 Million Of 4.9% Preferred Shares And Redeem Class A Preference Shares, Series 21
Tuesday, 28 May 2013 08:40am EDT 

Brookfield Asset Management Inc announced that it has agreed to issue 6,000,000 4.9% perpetual Class A Preference Shares, Series 37 on a bought deal basis to a syndicate of underwriters led by CIBC, RBC Capital Markets, Scotiabank and TD Securities for distribution to the public. The Preferred Shares, Series 37 will be issued at a price of CAD25.00 per share, for aggregate gross proceeds of CAD150,000,000. Brookfield has granted the underwriters an option, exercisable until 48 hours prior to closing, to purchase up to an additional 2,000,000 Preferred Shares, Series 37 which, if exercised, would increase the gross offering size to CAD200,000,000. The Preferred Shares, Series 37 will be offered in all provinces of Canada by way of a supplement to Brookfield Asset Management's existing short form base shelf prospectus dated June 7, 2011 as amended on June 13, 2012 and December 10, 2012. The Preferred Shares, Series 37 may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act. Brookfield also announced its intention to redeem all of its outstanding Class A Preference Shares, Series 21 for cash on June 30, 2013. The redemption price for each share will be CAD25.00. The offering of Preferred Shares, Series 37 is expected to close on or about June 13, 2013.  Full Article

Brookfield Asset Management Inc Declares Quarterly Dividend
Thursday, 9 May 2013 08:02am EDT 

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
Friday, 19 Apr 2013 07:45am EDT 

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
Monday, 15 Apr 2013 09:27am EDT 

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
Monday, 11 Mar 2013 01:59am EDT 

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
Friday, 15 Feb 2013 07:56am EST 

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
Monday, 11 Feb 2013 07:30am EST 

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
Wednesday, 30 Jan 2013 12:33pm EST 

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

Fitch Affirms Brookfield Asset Management's IDR at 'BBB'; Outlook Stable

(The following statement was released by the rating agency) NEW YORK, February 25 (Fitch) Fitch Ratings has affirmed the Issuer Default Rating (IDR) and senior unsecured debt rating of Brookfield Asset Management Inc. (BAM) at 'BBB'. The Rating Outlook is Stable. Approximately CAD$4.5 billion of long-term debt is affected by this rating action. Key Positive Rating Drivers --Diversified and stable revenue sources from a global investment portfolio; --Underlying commercial real estate, power

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