Brookfield Corporation Receives Exemptive Relief from the Ontario Securities Commission
Brookfield (NYSE: BN, TSX: BN) has received exemptive relief from the Ontario Securities Commission regarding the requirement for formal valuation and minority shareholder approval. This relief pertains to the previously announced arrangement to enhance the corporate structure of Brookfield Asset Management (NYSE: BAM, TSX: BAM). The company filed a material change report on November 1, 2024, which includes details of the arrangement and results of the formal valuation prepared by KPMG LLP. These documents are available on SEDAR+ and EDGAR, with free copies available to shareholders upon request.
Brookfield (NYSE: BN, TSX: BN) ha ricevuto esenzione dalla Ontario Securities Commission riguardo all'obbligo di una valutazione formale e all'approvazione degli azionisti di minoranza. Questa esenzione si riferisce all'accordo precedentemente annunciato per migliorare la struttura aziendale di Brookfield Asset Management (NYSE: BAM, TSX: BAM). L'azienda ha presentato un rapporto sul cambiamento materiale il 1 novembre 2024, che include dettagli sull'accordo e i risultati della valutazione formale preparata da KPMG LLP. Questi documenti sono disponibili su SEDAR+ ed EDGAR, con copie gratuite disponibili per gli azionisti su richiesta.
Brookfield (NYSE: BN, TSX: BN) ha recibido una exención de la Ontario Securities Commission respecto al requisito de evaluación formal y la aprobación de los accionistas minoritarios. Esta exención se refiere al acuerdo previamente anunciado para mejorar la estructura corporativa de Brookfield Asset Management (NYSE: BAM, TSX: BAM). La compañía presentó un informe de cambio material el 1 de noviembre de 2024, que incluye detalles del acuerdo y los resultados de la evaluación formal preparada por KPMG LLP. Estos documentos están disponibles en SEDAR+ y EDGAR, con copias gratuitas disponibles para los accionistas a petición.
브룩필드 (NYSE: BN, TSX: BN)는 온타리오 증권 위원회로부터 공식 평가와 소수 주주 승인의 요구 사항에 대한 면제를 받았습니다. 이 면제는 브룩필드 자산 관리 (NYSE: BAM, TSX: BAM)의 기업 구조를 개선하기 위한 이전에 발표된 합의와 관련이 있습니다. 회사는 2024년 11월 1일에 KPMG LLP가 준비한 공식 평가 결과와 합의 세부 사항을 포함한 중요 변경 보고서를 제출했습니다. 이 문서들은 SEDAR+와 EDGAR에서 확인할 수 있으며, 주주 요청 시 무료 복사본이 제공됩니다.
Brookfield (NYSE: BN, TSX: BN) a reçu une dispense de la Commission des valeurs mobilières de l'Ontario concernant l'obligation d'évaluation formelle et d'approbation des actionnaires minoritaires. Cette dispense concerne l'accord annoncé précédemment pour améliorer la structure de l'entreprise de Brookfield Asset Management (NYSE: BAM, TSX: BAM). La société a déposé un rapport sur un changement matériel le 1er novembre 2024, qui inclut les détails de l'accord et les résultats de l'évaluation formelle réalisée par KPMG LLP. Ces documents sont disponibles sur SEDAR+ et EDGAR, avec des copies gratuites disponibles pour les actionnaires sur demande.
Brookfield (NYSE: BN, TSX: BN) hat eine Ausnahmegenehmigung von der Ontario Securities Commission hinsichtlich der Anforderung für eine formelle Bewertung und die Genehmigung von Minderheitsaktionären erhalten. Diese Ausnahme bezieht sich auf das zuvor angekündigte Arrangement zur Verbesserung der Unternehmensstruktur von Brookfield Asset Management (NYSE: BAM, TSX: BAM). Das Unternehmen hat am 1. November 2024 einen Bericht über eine wesentliche Änderung eingereicht, der Details zu dem Arrangement und die Ergebnisse der von KPMG LLP durchgeführten formellen Bewertung enthält. Diese Dokumente sind auf SEDAR+ und EDGAR verfügbar, und kostenlose Kopien sind auf Anfrage für die Aktionäre erhältlich.
- Received regulatory exemption from Ontario Securities Commission, streamlining the corporate restructuring process
- None.
Insights
The exemptive relief granted by the Ontario Securities Commission represents a significant regulatory milestone for Brookfield 's corporate restructuring plan. This waiver of formal valuation and minority shareholder approval requirements streamlines the process for the previously announced arrangement with Brookfield Asset Management The presence of an independent valuation by KPMG LLP provides a strong foundation for the transaction's fairness, despite the exemption.
The regulatory green light reduces transaction costs and accelerates the timeline for implementing structural changes, potentially creating operational efficiencies. However, minority shareholders should carefully review the Material Change Report and KPMG's valuation to understand the transaction's implications for their interests, even though their formal approval is no longer required.
BROOKFIELD, NEWS, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Brookfield Corporation (NYSE: BN, TSX: BN) today announced that it has received exemptive relief from the Ontario Securities Commission from the requirement to obtain a formal valuation and minority shareholder approval in relation to the arrangement to enhance the corporate structure of Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM), which was jointly announced by BN and BAM on October 31, 2024 (the “Arrangement”).
BN filed a material change report on November 1, 2024 (the “Material Change Report”) summarizing the terms of the Arrangement and results of the formal valuation prepared by KPMG LLP, the independent valuer appointed by the Governance, Nominating and Compensation Committee of BAM (the “Valuation”). The Material Change Report and the Valuation are available on SEDAR+ under BN’s profile at www.sedarplus.ca and on EDGAR at www.sec.gov. Copies of the Material Change Report and/or the Valuation will be provided free of charge to shareholders upon request.
About Brookfield Corporation
Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.
We have a track record of delivering
For more information, please visit our website at www.bn.brookfield.com or contact:
| Media | Investor Relations |
| Kerrie McHugh | Linda Northwood |
| Tel: (212) 618-3469 | Tel: (416) 359-8647 |
| Email: kerrie.mchugh@brookfield.com | Email: linda.northwood@brookfield.com |
FAQ
What exemptive relief did Brookfield (BN) receive from the Ontario Securities Commission?
When did Brookfield (BN) file its material change report regarding the arrangement?
Where can shareholders access Brookfield 's (BN) material change report and valuation documents?
