Tue, Aug. 18, 12:56 PM
- "There will be so many future development opportunities that will come to market, as the economy recovers and the government continues to encourage private investment,” says Brookfield Infrastructure Partners (BIP -0.3%) CEO Sam Pollock, following his purchase of rail and port operator Asciano for A$8.9B yesterday. "There will be billions of dollars of capital required in this market."
- State governments are pushing to privatize assets and private companies like miners, energy producers, and industrial firms are in the process of unloading infrastructure.
- “There is an infrastructure deficit in almost every country, and it’s especially true in some of the developed economies like Australia and North America,” says Pollock. “We believe we are just at the start of this process.”
- Previously: Brookfiled Infrastructure leads purchase of Aussie rail and port logistics company (Aug. 17)
Tue, Aug. 18, 1:53 AM
- Canada's Brookfield Asset Management (NYSE:BAM) is acquiring Australian ports operator Asciano (OTCPK:AIOYY) for A$8.9B ($6.6B), scooping up an asset that has been made cheaper by a slump in coal prices.
- The deal, the largest takeover of an Australian company since 2011 and the biggest acquisition by a Canadian firm in that country, still needs shareholder approval, regulatory clearances and third-party consent at certain ports.
- Previously: Brookfield targets Asciano in $6.8B deal (Jul. 01 2015)
Mon, Aug. 17, 12:27 PM
- The purchase puts an enterprise value of about A$12B on Asciano Limited, and Asciano owners will receive A$6.94 in cash and 0.0387 Brookfield Infrastructure (BIP -2.8%) limited units, or A$9.15 per share.
- BIP's investment will by $2.8B for about a 55% stake in the company, and the deal is expected to be immediately accretive to AFFO per unit by 7%.
- Brookfiled will be issuing bout 37.9M BIP units, and in order to provide liquidity for Asciano shareholders has applied to be listed as a Foreign Exempt Listing on the ASX.
- Source: Press Release
Wed, Aug. 5, 7:39 AM
Wed, Jul. 1, 3:47 AM
- Canada’s Brookfield Infrastructure Partners (NYSE:BIP) has made an A$8.8B ($6.8B) takeover offer for Australian ports operator Asciano (OTCPK:AIOYY), amid a surge of interest in infrastructure assets worldwide.
- The proposal to acquire Asciano at an implied value of A$9.05 per share (36% premium to its closing price on Tuesday) would represent the biggest takeover of an Australian company since SABMiller bought Fosters in 2011.
Mon, Jun. 15, 7:47 AM
- Niska Gas Storage Partners (NYSE:NKA) agrees to be acquired by Brookfield Infrastructure (NYSE:BIP) and its institutional partners in a deal valued at $911.9M, including the assumption of debt.
- The $4.225/unit purchase price represents a ~222% premium to the June 12 closing price for the common units.
- The deal will require the approval of the California Public Utilities Commission.
Tue, May 5, 7:42 AM
Wed, Apr. 8, 7:41 AM
- The 8.9M unit offering priced at $45 each for gross proceeds of $400.5M. In addition, Brookfield Asset Management (NYSE:BAM) will purchase 8.1M redeemable partnership units in BIP's holding limited partnership at that price, bringing gross proceeds to $750.5M.
- The underwriters have the option to buy another 1.335M units at the offering price.
- Source: Press Release
- Shares -3% premarket.
Tue, Feb. 3, 7:39 AM
Dec. 10, 2014, 7:15 PM
- Some energy limited partnerships - pipeline operators or wholesale distributors, with less risky business models than oil E&P companies - have escaped much of the carnage in energy stocks and may make attractive investments, MarketWatch's Philip Van Doorn writes.
- These 12 energy LPs, most of which fell today amid the energy sector rout, actually have posted gains since Nov. 1: TCP, EEQ, EEP, DM, BPL, SHLX, SGU, BIP, SRLP, APU, SEP, SPH.
- Credit Suisse analyst John Edwards recently said many energy LPs look oversold; his top picks in the sector include EEP as well as NGLS, GEL, OKS, CNNX, PAA, BWP and AM.
Nov. 24, 2014, 8:49 AM
- Crestwood Equity Partners (NYSE:CEQP) agrees to sell its interest in Tres Palacios Gas Storage to a newly formed joint venture between Crestwood Midstream Partners (NYSE:CMLP) and an affiliate of Brookfield Infrastructure (NYSE:BIP) for $130M.
- CMLP will own 50.01% of Tres Palacios and will be the operator of Tres Palacios and its assets.
- As a part of the transaction, BIP is entering into five-year, fixed-fee contracts with Tres Palacios for 15B cf of firm storage capacity and 150K dkm/day of enhanced interruptible wheeling services.
Nov. 5, 2014, 7:43 AM
Aug. 5, 2014, 7:36 AM
Jul. 29, 2014, 8:44 AM
- Buckeye Partners (NYSE:BPL) agrees to sell all outstanding limited liability company interests in Lodi Gas Storage to Brookfield Infrastructure (NYSE:BIP) and its institutional partners for $105M.
- Lodi owns a natural gas storage facility in Northern California.
- The deal is subject to approval by California's utilities regulator.
May 5, 2014, 7:42 AM
Feb. 5, 2014, 9:18 AM
BIP vs. ETF Alternatives
Other News & PR