Brookfield To Acquire Oaktree

(RTTNews) - Brookfield and Oaktree have agreed on a proposed transaction whereby Brookfield will acquire the approximately 26% interest in Oaktree that it does not already own. Upon completion, Brookfield will own 100% of Oaktree.

Brookfield Asset Management Ltd. (BAM, BAM.TO) and Brookfield Corporation (BN, BN.TO) will acquire all of the remaining common equity interests in the Oaktree business for total consideration of approximately $3 billion. Of the $3 billion purchase price, Brookfield Asset Management and Brookfield Corporation will fund approximately $1.6 billion and $1.4 billion, respectively, reflecting their proportional ownership of Oaktree. Oaktree common equity holders will have the option to elect consideration in the form of cash, shares of BAM, or, subject to certain limitations, shares of BN.