Brookfield Asset Management Invests Up US$1.1 billion in Australian Infrastructure Entity

Toronto-based Brookfield Asset Management Inc. and Brookfield Infrastructure Partners L.P.(collectively known as Brookfield) announced that they have signed have an agreement with Babcock & Brown Infrastructure (BBI) of Australia to sponsor a comprehensive restructuring and recapitalization. BBI is a specialist infrastructure entity with diversified portfolio of transportation and utility assets located in Australia, the US, the UK, Europe, New Zealand and China. Brookfield has subscribed to a proposed investment in stapled securities and assets of BBI of approximately US$1.1 billion. Specifically, this comprises of the purchase of US$555 million to US$635 million of stapled securities for a 35% to 40% interest in the restructured BBI and US$265 million for the direct purchase from BBI of a 49.9% economic interest in Dalrymple Bay Coal Terminal, in Queensland, Australia; and 100% of PD Ports in England. Brookfield Asset Management is focused on property, renewable power and infrastructure assets.