Welcome to our dedicated page for Brookfield Corporation news (Ticker: BN), a resource for investors and traders seeking the latest updates and insights on Brookfield Corporation stock.
Brookfield Corporation news coverage provides insights into one of the world's largest alternative asset managers, tracking major acquisitions, portfolio company developments, and strategic initiatives across renewable energy, infrastructure, real estate, private equity, and credit markets. As a global investment firm managing over $1 trillion in assets, Brookfield's activities span multiple sectors and geographies, making its news particularly relevant for institutional investors, pension funds, and individuals following alternative investment trends.
News about Brookfield often focuses on significant acquisitions and divestitures, as the company actively deploys capital into undervalued assets and exits mature investments. Infrastructure transactions may involve transportation networks, utilities, or communications assets, while real estate news covers office properties, retail centers, logistics facilities, and residential developments. Renewable energy announcements frequently highlight wind farm acquisitions, solar project developments, or power purchase agreements with major corporations. Private equity news may feature business services acquisitions or operational improvements at portfolio companies.
The company's asset management business generates news through fundraising activities, new investment strategies, and partnerships with institutional investors. Brookfield Asset Management, as a majority-owned subsidiary, announces separate developments in client capital raising and investment performance. Wealth Solutions news covers insurance product launches, retirement service expansions, and strategies for making alternative investments accessible to individual investors.
Corporate structure changes represent another important news category, including ownership adjustments in publicly traded affiliates, dividend policies, and strategic organizational developments. Brookfield's relationship with entities like Brookfield Infrastructure Partners, Brookfield Renewable Partners, and other affiliated platforms creates interconnected news flows. Sustainability initiatives, environmental commitments, and decarbonization projects also generate coverage as the company aligns operations with global energy transition trends.
Partnership announcements with governments, corporations, and institutions provide insight into large-scale projects and infrastructure developments. These collaborations often involve multi-billion dollar commitments for renewable energy capacity, infrastructure modernization, or real estate development, signaling long-term investment trends and sector opportunities.
Brookfield, through its renewable power and transition business, has sold 8,600,000 common shares of TransAlta on the Toronto Stock Exchange. The transaction was completed at C$19.65 per share, generating approximately C$168,990,000 in gross cash consideration.
Prior to the transaction, Brookfield owned 35,523,345 shares (11.9% of TransAlta). Following the sale, Brookfield's ownership decreased to 26,923,345 shares, representing approximately 9% of TransAlta's outstanding shares - a reduction of 2.9%. The disposition aligns Brookfield's share ownership with certain threshold agreements.
While there are no immediate plans for further sales, Brookfield maintains the flexibility to modify its position based on various factors including share price, transaction terms, liquidity needs, and diversification objectives.
Brookfield (NYSE: BN, TSX: BN) has announced the pricing of a $700 million public offering of subordinated notes due 2055. The notes will carry a 6.300% annual interest rate until January 15, 2035, after which the rate will be reset every five years based on the five-year U.S. treasury rate plus a 2.076% spread, with a minimum rate of 6.300%.
The notes will be issued by Brookfield Finance Inc., a wholly-owned subsidiary, and will be fully guaranteed by Brookfield The offering is expected to close on December 17, 2024, with proceeds intended for general corporate purposes.
Brookfield Residential has acquired an ownership position in Kolter Land to expand residential land development across the Southeast U.S. The strategic partnership combines Kolter's operational strength in the Southeast with Brookfield Residential's real estate investment expertise. The collaboration aims to provide finished residential lots and mixed-use pads to builders in Florida, Tennessee, Georgia, and the Carolinas. Jim Harvey, a 30-year veteran, will lead the partnership, transitioning from his role as President of Kolter Land. The partnership will leverage Brookfield's position as one of the largest lot suppliers to homebuilders and Kolter's established relationships with Southeast's leading public and private builders.
Brookfield (NYSE: BN, TSX: BN) has received exemptive relief from the Ontario Securities Commission regarding the requirement for formal valuation and minority shareholder approval. This relief pertains to the previously announced arrangement to enhance the corporate structure of Brookfield Asset Management (NYSE: BAM, TSX: BAM). The company filed a material change report on November 1, 2024, which includes details of the arrangement and results of the formal valuation prepared by KPMG LLP. These documents are available on SEDAR+ and EDGAR, with free copies available to shareholders upon request.
Brookfield (NYSE: BN) reported strong Q3 2024 financial results with record distributable earnings before realizations of $1.3 billion ($0.80 per share), up 19% year-over-year. The company's asset management business saw 14% growth in fee-related earnings, with fee-bearing capital increasing 23% to $539 billion. Wealth solutions earnings doubled, benefiting from American Equity Life acquisition and increased annuity sales. The company executed $17 billion in monetizations and $20 billion in new investments. Core real estate portfolio showed 4% growth in same-store NOI. Brookfield maintains over $150 billion in deployable capital and repurchased approximately $1 billion of shares over the last twelve months.
Brookfield Asset Management (BAM) and Brookfield (BN) announced structural changes to enhance BAM's corporate framework. The key changes include moving BAM's head office to New York and an arrangement where BAM would own 100% of the asset management business, with BN's current 73% interest being converted to direct ownership of BAM shares. This restructuring aims to simplify BAM's corporate structure and enable broader equity index inclusion, particularly in the U.S. The arrangement, subject to shareholder approval on December 20, 2024, is expected to close in early 2025. This would increase BAM's market capitalization to approximately $85 billion from the current $23 billion, reflecting the total value of the asset management business.
Fundamental Income Properties, a Phoenix-based net lease real estate company, has closed a $241.0 million long-term fixed-rate note issuance, designated as Fundamental Income Net-Lease Mortgage Notes, Series 2024-1. This marks the company's third note issuance under its FI Master Trust program and its first to achieve a 'AAA' rating from Standard & Poor's (S&P) on the senior class of notes.
The issuance comprises three classes of 5-year notes: $144.6 million of Class A-1 notes rated 'AAA', $72.3 million of Class A-2 notes rated 'AA', and $24.1 million of Class A-3 notes rated 'A'. Additionally, S&P upgraded $178.6 million of outstanding A-1 'AA' notes from the Series 2023-1 to 'AAA'.
This successful offering reflects investor confidence in Fundamental Income, which has acquired and financed over $1.6 billion of single-tenant properties across 43 states and 51 industries since 2020.
Brookfield (TSX: BN, NYSE: BN) has announced its upcoming third quarter 2024 conference call and webcast, scheduled for Thursday, November 14, 2024, at 10:00 a.m. (ET). The company will release its financial results earlier that morning, before 7:00 a.m. (ET), which will be available on their website. Participants can join the event via conference call or webcast, with pre-registration required for the conference call. A replay of the webcast will be accessible for 90 days following the event.
Brookfield (NYSE: BN, TSX: BN) has announced the results of the conversion of its Cumulative Class A Preference Shares, Series 40 (TSX: BN.PF.F) into Cumulative Class A Preference Shares, Series 41. The company reported that 29,920 Series 40 Shares were tendered for conversion, which is below the one million share threshold required to proceed with the conversion into Series 41 Shares. As a result, no conversion will take place, and holders of Series 40 Shares will retain their current shares.
American Tower (NYSE: AMT) has closed the sale of its India operations to Data Infrastructure Trust (DIT), sponsored by Brookfield Asset Management. The transaction yielded total cash proceeds of approximately $2.5 billion, including $320 million from monetizing Vodafone Idea debentures and receivables, and $2.2 billion in final closing proceeds. American Tower plans to use these funds to repay existing debts, including the India term loan.
As a result of this sale, ATC India's results will now be reported as discontinued operations. The company has provided updated 2024 outlook estimates, adjusting for the transaction's impact on property revenue, Adjusted EBITDA, and AFFO per share. American Tower has also released proforma estimates for continuing operations, factoring in interest expense savings from the sale proceeds.
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