Brookfield Asset Management is in talks to purchase a stake in Australian smart meter firm Intellihub Group in a deal that could fetch A$3 billion ($2.1 billion), people with knowledge of the matter told Bloomberg.
The Intellihub Group is an Australian and New Zealand–based utility services company that delivers metering and data solutions to maximize digital and new energy services, according to the company’s website. Intellihub is a major provider of multi-utility services across electricity, gas and water networks for residential, commercial and industrial, embedded network, and solar metering customers.
In November, Intellihub secured the world’s first certification under International Climate Bonds Standard to help fund the rollout of its smart meters across Australia and New Zealand.
Brookfield would acquire the stake in the firm from its Australian backer, Pacific Equity Partners.
