Brookfield and Johnson Controls to Merge Australian and New

Brookfield and Johnson Controls to Merge Australian and New Zealand
Property and Facility Services Operations to Create Brookfield
Johnson Controls 
Global companies create new entity targeting A$18 billion outsourced
property services market in Australia and New Zealand 
SYDNEY, AUSTRALIA -- (Marketwire) -- 11/21/12 -- Brookfield Asset
Management Inc. (TSX:BAM.A)(NYSE:BAM)(EURONEXT:BAMA), and global
diversified technology and industrial leader Johnson Controls have
agreed to merge their Australian and New Zealand property and
facility services operations to create Brookfield Johnson Controls. 
The merged entity will combine the local operations of Brookfield
Multiplex Services, which provides real estate, facilities and
project management services to a range of large corporate and
government occupiers, with the Australian and New Zealand business of
Johnson Controls Global WorkPlace Solutions (GWS), a leading provider
of facilities, corporate real estate and energy management services. 
Key highlights 

--  Brookfield Johnson Controls will combine Johnson Controls GWS's global
    operating model, industry expertise and technology expertise with
    Brookfield Multiplex Services' regional infrastructure, local knowledge
    and established real estate, facilities and project management
--  The merged entity will manage more than 3.9 million square metres of
    property in more than 9,200 locations around Australia and New Zealand.
    Its revenue will be approximately $250 million, with a goal to double
    the size of the business over the next five years. 
--  The company's client base includes major global corporations such as
    Agilent Technologies, GlaxoSmithKline and Cisco, along with a number of
    federal, state and local government agencies. 

Jon McCormick, managing director, Brookfield Johnson Controls, said:
"This merger creates a new fully integrated real estate, facilities
and project management provider, one of only a handful of companies
in Australia and New Zealand able to offer such a broad range of
"There is a clear opportunity to achieve accelerated growth in a
growing market. Internal research values the outsourced property
services market in Australia and New Zealand a
t A$18 billion, which
is expected to grow by approximately 5 per cent annually. Both
government agencies and corporates are increasingly looking to
outsource property management functions to get innovative and
professional services which can increase efficiency and deliver
bottom-line value. As a result, we see a real opportunity to draw on
the expertise of our two global parent companies to provide a
market-leading alternative." 
Extension of successful global partnership 
Brookfield Johnson Controls is the second partnership between
Brookfield and Johnson Controls globally. The first, which was formed
in Canada in 1992, is an established industry leader providing
services to more than 12.5 million square metres (134 million square
feet) in 11,500 locations across Canada. 
Concurrent with the formation of Brookfield Johnson Controls in
Australia, interests in the Canadian company will also be realigned.
The Canadian entity will be renamed Brookfield Johnson Controls.  
The companies' Canadian partnership has built a strong reputation in
the financial services sector, counting many of Canada's largest
banks and financial institutions as clients. This expertise will be
used by Brookfield Johnson Controls to serve Australian and New
Zealand financial services clients, among others. 
"We expect the combined regional strength of Brookfield Multiplex
Services, the Johnson Controls GWS international platform and the
global expertise of our parent companies will be particularly
compelling for banks, insurance companies and other financial
institutions in the region," said Mr McCormick.  
"Our target sectors also include the life sciences, technology,
industrial and oil and gas markets while our global reach will appeal
to larger companies with operations in Australia and New Zealand
looking to grow into international markets." 
Iain Campbell, vice president and general manager, Johnson Controls
Global Energy and WorkPlace Solutions, said: "This merger represents
an extension of the global Brookfield and Johnson Controls
partnership. Based on a relationship now spanning three decades, and
drawing together the highly-complementary skill sets of our
respective businesses, we are confident our new Australian and New
Zealand business will have an immediate impact in this important
Brian Kingston, CEO of Brookfield Australia, said: "Brookfield and
Johnson Controls have enjoyed great success in Canada using a similar
model to the one that will be employed in Australia. The formation of
this partnership was the next logical step in accelerating our growth
in Australia and New Zealand, a market on which we place great
importance and view with ongoing confidence." 
The merger agreement between Brookfield Multiplex Services and
Johnson Controls GWS in Australia and New Zealand is subject to
customary conditions precedent and is expected to close before the
end of the calendar year. Brookfield Johnson Controls intends to
begin operations from early 2013. 
About Johnson Controls Global WorkPlace Solutions  
Johnson Controls Global WorkPlace Solutions is a leading provider of
facilities, corporate real estate and energy management for many of
the world's largest companies. We create business advantage for our
customers through tailored solutions that optimize their real estate
performance and employee productivity while reducing total occupancy
costs. Our 21,000 employees have delivered over $3 billion in savings
for our customers over the last 10 years and ensure the business
continuity of the 1.8 billion square feet of real estate that we
manage in more than 75 countries.  
About Johnson Controls  
Johnson Controls is a global diversified technology and industrial
leader serving customers in over 150 countries. Our 162,000 employees
create quality products, services and solutions to optimize energy
and operational efficiencies of buildings; lead-acid automotive
batteries and advanced batteries for hybrid and electric vehicles;
and interior systems for automobiles. Our commitment to
sustainability dates back to our roots in 1885, with the invention of
the first electric room thermostat. Through our growth strategies and
by increasing market share we are committed to delivering value to
shareholders and making our customers successful. In 2012, Corporate
Responsibility Magazine recognized Johnson Controls as the #5 company
in its annual "100 Best Corporate Citizens" list.  
For additional information, please visit 
About Brookfield Multiplex Services  
Brookfield Multiplex Services provides real estate, facilities and
project management services to a range of large corporate and
government occupiers in Australia and New Zealand. With more than 3
million square meters and 8,900 properties under management,
Brookfield Multiplex Services has significant regional infrastructure
and service capabilities that will add to our client service
About Brookfield   
Brookfield Asset Management Inc. is a global alternative asset
manager with over $150 billion in assets under management. The
company has over a 100-year history of owning and operating assets
with a focus on property, renewable power, infrastructure and private
equity. It has a rang
e of public and private investment products and
services. Brookfield is co-listed on the New York and Toronto Stock
Exchanges under the symbols BAM and BAMA, respectively, and on NYSE
Euronext under the symbol BAMA. 
For additional information, please visit  
This press release contains "forward-looking information" within the
meaning of Canadian provincial securities laws and "forward-looking
statements" within the meaning of Section 27A of the U.S. Securities
Act of 1933, as amended, Section 21E of the U.S. Securities Exchange
Act of 1934, as amended, "safe harbor" provisions of the United
States Private Securities Litigation Reform Act of 1995 and in any
applicable Canadian securities regulations. Forward-looking
statements include statements that are predictive in nature, depend
upon or refer to future events or conditions, include statements
regarding the operations, business, financial condition, expected
financial results, performance, prospects, opportunities, priorities,
targets, goals, ongoing objectives, strategies and outlook of
Brookfield, Johnson Controls and their subsidiaries, as well as the
outlook for North American, Australian, New Zealand and other
economies for the current fiscal year and subsequent periods, and
include words such as "expects", "increase," "grow," or negative
versions thereof and other similar expressions, or future or
conditional verbs such as "may," "will," "should," "would" and
Although we believe that our anticipated future results, performance
or achievements expressed or implied by the forward-looking
statements and information are based upon reasonable assumptions and
expectations, the reader should not place undue reliance on
forward-looking statements and information because they involve known
and unknown risks, uncertainties and other factors, many of which are
beyond our control, which may cause the actual results, performance
or achievements of Brookfield and Johnson Controls to differ
materially from anticipated future results, performance or
achievement expressed or implied by such forward-looking statements
and information.  
Factors that could cause actual results to differ materially from
those contemplated or implied by forward-looking statements include,
but are not limited to: the impact or unanticipated impact of general
economic, political and market factors in the countries in which we
do business; the behavior of financial markets, including
fluctuations in interest and foreign exchanges rate; global equity
and capital markets and the availability of equity and debt financing
and refinancing within these markets; strategic actions including
dispositions; the ability to complete and effectively integrate
acquisitions into existing operations and the ability to attain
expected benefits; changes in accounting policies and methods used to
report financial condition (including uncertainties associated with
critical accounting assumptions and estimates); the effect of
applying future accounting changes; business competition; operational
and reputational risks; technological change; changes in government
regulation and legislation within the countries in which we operate;
changes in tax laws, catastrophic events, such as earthquakes and
hurricanes; the possible impact of international conflicts and other
developments including terrorist acts; and other risks and factors
detailed from time to time in our documents filed with the securities
regulators in Canada and the United States.  
We caution that the foregoing list of important factors that may
affect future results is not exhaustive. When relying on our
forward-looking statements, investors and others should carefully
consider the foregoing factors and other uncertainties and potential
events. Except as required by law, Brookfield and Johnson Controls
undertake no obligation to publicly update or revise any
forward-looking statements or information, whether written or oral,
that may be as a result of new information, future events or
MAGNUS Investor Relations + Corporate Communication
Ian Pope
+61 2 8999 1008 / +61 416 826 037 
Garry Nickson
+61 2 8999 1004 / +61 414 930 082
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