Brookfield Wins Australia’s AusNet with $7.7 Billion Deal
- Buyers plan further investment to meet increasing power demand
- Rival suitor APA says AusNet still ‘highly attractive’
Photographer: Carla Gottgens/Bloomberg
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Australian electricity and gas distribution company AusNet Services has agreed to a binding takeover offer from a consortium including Brookfield Asset Management in a deal that values the business at A$10.2 billion ($7.7 billion).
AusNet said its board unanimously supports the A$2.65 per share offer from the group, which also includes pension funds Sunsuper Pty Ltd, Alberta Investment Management Corp., the Investment Management Corp. of Ontario and Healthcare of Ontario Pension Plan. Including debt, the deal is worth A$17.8 billion, Ausnet said in a statement Monday.