BIP
Brookfield Infrastructure Partners L.P.NYSE
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  • Tue, Nov. 29, 9:01 AM
    • Brookfield Infrastructure Partners (NYSE:BIP) sold 15.625M units at $32 each in a secondary offering, with underwriters RBC Capital, CIBC Capital, Citibank, BAML, and HSBC.
    • In addition, Brookfield Asset Management (NYSE:BAM) is buying another 8.139M units at that price.
    • Total gross proceeds are about $750M.
    • The underwriters have a greenshoe option for another 2.3M units at the offering price.
    • BIP -3.55% premarket to $31.65.
    | Tue, Nov. 29, 9:01 AM | 17 Comments
  • Mon, Nov. 28, 7:46 AM
    • Brookfield Infrastructure Partners (NYSE:BIP) had declared $0.39/share quarterly dividend, in line with previous.
    • Payable Dec. 30; for shareholders of record Nov. 30; ex-div Nov. 28.
    | Mon, Nov. 28, 7:46 AM
  • Fri, Nov. 4, 7:07 AM
    • Brookfield Infrastructure Partners (NYSE:BIP): Q3 EPS of $0.16 misses by $0.09.
    • Revenue of $522M (+11.5% Y/Y) misses by $149.35M.
    • Press Release
    | Fri, Nov. 4, 7:07 AM | 15 Comments
  • Mon, Sep. 26, 8:33 AM
    | Mon, Sep. 26, 8:33 AM | 8 Comments
  • Fri, Sep. 23, 7:10 AM
    • The purchasing consortium is made up of Brookfield Infrastructure (NYSE:BIP) and institutional clients of Brookfield Asset Management (NYSE:BAM).
    • As reported earlier this month, the $5.2B deal is for 90% of Petrobas' (NYSE:PBR) Nova Transportadora do Sudeste S.A., a system of natural gas transmission assets in Southeast Brazil.
    • BIP's investment will be a minimum of 20% of the deal value.
    • Closing is targeted before year-end.
    | Fri, Sep. 23, 7:10 AM | 9 Comments
  • Mon, Aug. 29, 7:09 AM
    • Brookfield Infrastructure Partners (NYSE:BIP) had declared $0.59/share quarterly dividend, 3.5% increase from prior dividend of $0.57.
    • Payable Sept. 30; for shareholders of record Aug. 31; ex-div Aug. 29.
    | Mon, Aug. 29, 7:09 AM | 6 Comments
  • Wed, Aug. 3, 6:59 AM
    • Brookfield Infrastructure Partners (NYSE:BIP): Q2 EPS of $0.59; FFO of $1.00.
    • Revenue of $462M (-0.9% Y/Y).
    • Press Release
    | Wed, Aug. 3, 6:59 AM | 15 Comments
  • Thu, Jul. 28, 4:59 AM
    • Fresh off a $70M investment from Twitter, SoundCloud may be putting itself up for sale for as much as $1B.
    • Sony (NYSE:SNE) has agreed to sell a portion of its battery business to Murata Manufacturing (OTCPK:MRAAY).
    • Fosun Pharmaceutical (OTCPK:FOSUY) is acquiring Indian drugmaker Gland Pharma - backed by KKR - for about $1.4B.
    • Asciano's (OTCPK:AIOYY) $6.8B buyout by a global consortium led by Brookfield Infrastructure (NYSE:BIP) has cleared final antitrust hurdles in Australia, marking the country's biggest foreign takeover in five years.
    | Thu, Jul. 28, 4:59 AM | 1 Comment
  • Thu, Jul. 21, 10:01 AM
    • Australia's antitrust watchdog has given the green light to a A$9.1B ($6.8B) buyout of rail freight giant Asciano (OTCPK:AIOYY) by a global consortium led by Canada's Brookfield Infrastructure (BIP +0.1%).
    • The Australian Competition and Consumer Commission had been concerned the deal would give Asciano's new owners, which include Qube Holdings (OTCPK:QBBHY), too much control of the freight market.
    | Thu, Jul. 21, 10:01 AM | 2 Comments
  • Thu, May 5, 6:57 AM
    • Brookfield Infrastructure Partners (NYSE:BIP): Q1 EPS of $0.25 misses by $0.09.
    • Revenue of $454M (-2.6% Y/Y) misses by $250.73M.
    | Thu, May 5, 6:57 AM | 9 Comments
  • Mon, Apr. 4, 12:40 PM
    • A weekend Barron's article noted that the majority of Brookfield Asset Management's (BAM -4.7%) earnings in recent years are the result of noncash markups of the "fair value" of its investments.
    • Taking a look at two key properties of Brookfield Infrastructure Partners (BIP -3%), Barron's raised questions about how Brookfield's valuations were so much higher than those of its JV partners.
    • Brookfield calls their valuations "conservative." Muddy Waters isn't buying it.
    • Now read: 2015 Intrinsic Value For Brookfield Asset Management (April 4)
    | Mon, Apr. 4, 12:40 PM | 15 Comments
  • Sat, Apr. 2, 10:09 AM
    • Although Brookfield Asset Management (NYSE:BAM) reaps cash flow from rents, tolls, and management fees, writes Bill Alpert, the majority of reported earnings in recent years have come from noncash markups of the "fair value" of its investment properties.
    • Said properties - which include office buildings, container ports, toll roads, and hydroelectric dams - can be tricky to value, meaning "unobservable inputs" are at the fore in their calculation.
    • BAM's 30%-owned affiliate Brookfield Infrastructure Partners (NYSE:BIP) has grown its cash flow and dividend at better than a 10% annualized clip since its 2008 spinoff, and today has a 5.5% yield. Two investments that account for 14% of its book value are jointly held with other public companies doing their own valuations of those assets - Natural Gas Pipeline Company of America and Brazilian toll road network Arteris (which, in fact, is publicly traded).
    • Looking at Arteris, both Brookfield and Spanish co-owner Abertis Infraestructuras in 2014 carried the asset at values implying the company was worth $2.3B. With trucking traffic on the decline amid a Brazilian recession, Abertis Infraestructuras wrote down its investment to a level implying a $900M valuation at year-end 2015, while Brookfield hung tight at $2B. A check of Abertis' stock price finds the public market valuation lower than even that $900M figure.
    • What gives? BIP CEO Sam Pollock says public markets are undervaluing Abertis, and BIP and its partner have offered $1B to take it private. As for BIP's $2B valuation, it implies an enterprise value of roughly eight times 2015 cash flow.
    | Sat, Apr. 2, 10:09 AM | 33 Comments
  • Mon, Feb. 8, 8:48 AM
    • Qube Holdings (OTCPK:QBBHY) has raised its proposed takeover bid for port operator Asciano (OTCPK:AIOYY) to A$9B ($6.4B), saying the target prefers its approach to that of Brookfield Infrastructure (NYSE:BIP).
    • Qube lifted its cash and shares indicative offer for Asciano to A$9.24 per share, higher than both its previous A$9.17 approach and Canadian Brookfield's A$9.10.
    • Previously: Brookfield makes Asciano concessions (Dec. 22 2015)
    | Mon, Feb. 8, 8:48 AM
  • Wed, Feb. 3, 6:54 AM
    • Brookfield Infrastructure Partners (NYSE:BIP): Q4 EPS of $0.04 misses by $0.17. FFO of $0.89.
    • Revenue of $455M (-2.2% Y/Y) misses by $14.32M.
    | Wed, Feb. 3, 6:54 AM | 14 Comments
  • Dec. 22, 2015, 8:06 AM
    | Dec. 22, 2015, 8:06 AM | 7 Comments
  • Nov. 30, 2015, 5:17 PM
    • Kinder Morgan (NYSE:KMI) and Brookfield Infrastructure Partners (NYSE:BIP) agree to jointly acquire the 53% equity interest in Natural Gas Pipeline Company of America they do not already own from Myria Holdings for ~$242M.
    • KMI will pay $136M and increase its ownership interest to 50% from 20%, while BIP will pay $106M and raise its stake to 50% from 27%.
    • The deal values NGPL, one of the largest interstate pipeline systems in the U.S. with ~9,200 miles of pipeline, at ~$3.4B including debt.
    • KMI says it will continue to operate NGPL, and expects the deal will be immediately accretive to its cash available to pay dividends.
    | Nov. 30, 2015, 5:17 PM | 61 Comments