Brookfield Infrastructure Announces Closing Date of Reorganization
Brookfield Infrastructure Partners L.P. (BIP) and Brookfield Infrastructure (BIPC) have secured all necessary shareholder, court, and regulatory approvals for their previously announced reorganization. The arrangement will take effect before market opening on December 24, 2024. Under this reorganization, BIPC shareholders will automatically receive new class A exchangeable shares that maintain the same economic benefits and governance structure as their current investment. These New Exchangeable Shares will continue trading under the symbol 'BIPC' on both the Toronto Stock Exchange and New York Stock Exchange.
Brookfield Infrastructure Partners L.P. (BIP) e Brookfield Infrastructure (BIPC) hanno ottenuto tutte le necessarie approvazioni da parte degli azionisti, del tribunale e delle autorità di regolamentazione per la loro riorganizzazione precedentemente annunciata. L'accordo entrerà in vigore prima dell'apertura del mercato il 24 dicembre 2024. Con questa riorganizzazione, gli azionisti di BIPC riceveranno automaticamente nuove azioni scambiabili di classe A che mantengono gli stessi benefici economici e la struttura di governance del loro attuale investimento. Queste nuove azioni scambiabili continueranno a essere negoziate con il simbolo 'BIPC' sia sulla Borsa di Toronto che sulla Borsa di New York.
Brookfield Infrastructure Partners L.P. (BIP) y Brookfield Infrastructure (BIPC) han obtenido todas las aprobaciones necesarias de accionistas, del tribunal y de las autoridades regulatorias para su reorganización previamente anunciada. El acuerdo entrará en vigor antes de la apertura del mercado el 24 de diciembre de 2024. Bajo esta reorganización, los accionistas de BIPC recibirán automáticamente nuevas acciones de clase A intercambiables que mantienen los mismos beneficios económicos y la estructura de gobernanza que su inversión actual. Estas nuevas Acciones Intercambiables continuarán negociándose bajo el símbolo 'BIPC' tanto en la Bolsa de Toronto como en la Bolsa de Nueva York.
브룩필드 인프라 파트너스 L.P. (BIP)와 브룩필드 인프라 (BIPC)는 이전에 발표된 조직 개편을 위해 모든 필수 주주, 법원 및 규제 승인을 확보했습니다. 이 조치는 2024년 12월 24일 시장 개장 전에 발효됩니다. 이번 조직 개편에 따라 BIPC 주주는 현재 투자와 동일한 경제적 이점과 거버넌스 구조를 유지하는 새로운 A 클래스를 자동으로 받게 됩니다. 이러한 새로운 교환 가능한 주식은 토론토 증권 거래소와 뉴욕 증권 거래소 모두에서 'BIPC' 기호로 계속 거래됩니다.
Brookfield Infrastructure Partners L.P. (BIP) et Brookfield Infrastructure (BIPC) ont obtenu toutes les approbations nécessaires des actionnaires, du tribunal et des autorités de régulation pour leur réorganisation précédemment annoncée. L'accord entrera en vigueur avant l'ouverture du marché le 24 décembre 2024. Dans le cadre de cette réorganisation, les actionnaires de BIPC recevront automatiquement de nouvelles actions échangeables de classe A qui maintiennent les mêmes avantages économiques et la même structure de gouvernance que leur investissement actuel. Ces nouvelles actions échangeables continueront d'être négociées sous le symbole 'BIPC' à la fois sur la Bourse de Toronto et sur la Bourse de New York.
Brookfield Infrastructure Partners L.P. (BIP) und Brookfield Infrastructure (BIPC) haben alle erforderlichen Genehmigungen von Aktionären, Gerichten und Regulierungsbehörden für ihre zuvor angekündigte Reorganisation erhalten. Die Regelung wird vor Eröffnung des Marktes am 24. Dezember 2024 in Kraft treten. Im Rahmen dieser Reorganisation erhalten die BIPC-Aktionäre automatisch neue, umtauschbare Aktien der Klasse A, die die gleichen wirtschaftlichen Vorteile und die gleiche Governance-Struktur wie ihre derzeitige Investition beibehalten. Diese neuen umtauschbaren Aktien werden weiterhin unter dem Symbol 'BIPC' sowohl an der Toronto Stock Exchange als auch an der New York Stock Exchange gehandelt.
- All regulatory, shareholder, and court approvals obtained for reorganization
- Seamless transition with automatic share exchange
- Preservation of existing economic benefits and governance structure for shareholders
- None.
Insights
This reorganization represents a technical restructuring of Brookfield Infrastructure 's share structure, maintaining the existing economic benefits and governance rights for shareholders. The implementation of New Exchangeable Shares preserves the dual-class structure that allows investors to choose between BIP's partnership units and BIPC's corporate shares while maintaining economic equivalence. The reorganization solidifies BIPC's position as an alternative way to invest in Brookfield Infrastructure's portfolio without disrupting the underlying business operations or investor value proposition.
For investors, this corporate action is primarily administrative and maintains the status quo - shareholders will automatically receive new shares that mirror their current investment characteristics. The execution timing during the holiday period (December 24) is strategic, minimizing potential market disruption. The completion of all regulatory and shareholder approvals indicates strong stakeholder support and smooth implementation of this corporate governance enhancement.
BROOKFIELD, News, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Brookfield Infrastructure Partners L.P. (“BIP”) (NYSE: BIP; TSX: BIP.UN) and Brookfield Infrastructure Corporation (“BIPC”) (TSX, NYSE: BIPC) today announced that they have now received all required shareholder, court and regulatory approvals for the previously-announced proposed reorganization of BIPC (the “Arrangement”). Accordingly, the Arrangement will become effective prior to markets open on December 24, 2024.
As a result of the Arrangement, in exchange for their class A exchangeable subordinate voting shares of BIPC, BIPC shareholders will automatically receive new class A exchangeable shares (“New Exchangeable Shares”) that provide the same economic benefits and governance of investing in BIPC today. The New Exchangeable Shares will be listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol “BIPC”.
About Brookfield Infrastructure
Brookfield Infrastructure is a leading global infrastructure company that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across the Americas, Asia Pacific and Europe. We are focused on assets that have contracted and regulated revenues that generate predictable and stable cash flows. Investors can access its portfolio either through Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN), a Bermuda-based limited partnership, or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC), a Canadian corporation. Further information is available at https://bip.brookfield.com.
Brookfield Infrastructure is the flagship listed infrastructure company of Brookfield Asset Management, a global alternative asset manager with over
Contact Information
| Media: | Investor Relations: |
| Simon Maine Managing Director Corporate Communications Tel: +44 739 890 9278 Email: simon.maine@brookfield.com | Stephen Fukuda Senior Vice President Corporate Development & Investor Relations Tel: +1 416 956 5129 Email: stephen.fukuda@brookfield.com |
Cautionary Statement Regarding Forward-looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities laws. The words “will,” “expect”, or derivations thereof and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. Forward-looking statements in this news release include statements regarding BIP and BIPC’s beliefs on certain benefits of the Arrangement; the anticipated closing date of the Arrangement; and the commencement of trading of the New Exchangeable Shares on the Toronto Stock Exchange and New York Stock Exchange. Although BIP and BIPC believe that these forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on them, or any other forward-looking statements or information in this news release. The future performance and prospects of BIP and BIPC are subject to a number of known and unknown risks and uncertainties. Factors that could cause actual results of BIP and BIPC to differ materially from those contemplated or implied by the statements in this news release include risks and factors described in the documents filed by BIP and BIPC with securities regulators in Canada and the United States including under “Risk Factors” in BIP’s and BIPC’s most recent Annual Reports on Form 20-F and other risks and factors that are described therein. Except as required by law, BIP and BIPC undertake no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.
FAQ
When will Brookfield Infrastructure's (BIP) reorganization become effective?
What will BIPC shareholders receive in exchange for their current shares?
Will the new BIPC shares maintain the same stock exchange listing and symbol?
What approvals were required for Brookfield Infrastructure's reorganization?
