Brookfield Sells Its 49.95% One New Zealand Stake To Infratil For $1.1B
Portfolio Pulse from Akanksha Bakshi
Brookfield Asset Management (BAM) has agreed to sell its 49.95% stake in One New Zealand to Infratil Limited (IFUUF) for $1.1 billion. This will increase Infratil's ownership in One NZ to 99.90%. The acquisition values One NZ at an enterprise value of NZ$5.9 billion.
June 07, 2023 | 12:48 pm
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POSITIVE IMPACT
Brookfield Asset Management sells its 49.95% stake in One New Zealand to Infratil Limited for $1.1 billion, realizing a strong return.
The sale of Brookfield's stake in One NZ for $1.1 billion is a positive development for the company as it realizes a strong return on its investment. This could potentially boost BAM's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Infratil Limited acquires Brookfield's 49.95% stake in One New Zealand for $1.1 billion, raising its ownership to 99.90%.
Infratil's acquisition of Brookfield's stake in One NZ for $1.1 billion increases its ownership to 99.90%, giving it near-total control of the company. This could potentially have a positive impact on IFUUF's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100