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Brookfield wins $7.7 takeover bid for AusNet
Transactions - NOVEMBER 1, 2021

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Brookfield wins $7.7 takeover bid for AusNet

by Kali Persall

After months of negotiations, a Brookfield Asset Management-led consortium has won a takeover offer for AusNet, the largest energy distributor in Victoria, Australia. The deal values the business at A$10.2 billion ($7.7 billion), or A$2.65 ($1.99) per share, according to Bloomberg.

The consortium also includes pension funds Sunsuper, Alberta Investment Management Corp., the Investment Management Corp. of Ontario and Healthcare of Ontario Pension Plan.

AusNet is 31.1 percent owned by Singapore Power, and 19.9 percent owned by State Grid Corp. of China.

Brookfield previously submitted bids of A$2.35 ($1.70) per share, A$2.45 per share ($1.80) per share and most recently, A$2.50 ($1.81).

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