Deals
Brookfield Prepared to Exit Palladium Stake as Metal Soars
- Asset manager sees opportunities once stock is ‘fairly valued’
- Investors wary after North American Palladium’s near collapse
Ore at the Talnakh Enrichment Plant.
Photographer: Kirill Kukhmar/TASS/Getty ImagesThis article is for subscribers only.
Brookfield Asset Management Inc. is laying the groundwork for the possible sale of one of the world’s only dedicated palladium companies even as prices for the metal used in car pollution control devices soar.
Canada’s largest alternative asset manager is the majority owner of North American Palladium Ltd., whose main asset is a mine near Thunder Bay, Ontario with reserves of 21 million metric tons. Brookfield’s involvement began in 2013 when the company almost collapsed amid a poorly conceived expansion.