Return to search

Brookfield offers to buy Australia’s Aveo for $859.4 mln: Reuters

Brookfield Asset Management has offered to acquire Aveo Group Ltd, a Sydney, Australia-based retirement-home operator, for $859.4 million in cash, according to a report by Reuters.

Aveo, which in July said Brookfield was the preferred party in the company’s strategic review process, disclosed the offer this week.

The deal would give Brookfield a sizeable chunk of Australia’s aged-care industry, which has seen its valuations slide to attractive levels in the wake of a public inquiry into mistreatment and abuse of residents in facilities, Reuters said.