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Brookfield to list 25 pct stake in asset management unit: Reuters

Brookfield Asset Management said it will separate and list 25 percent of the stake in its asset management unit, months after it said it was considering the move to open up growth options, Reuters reported.

Brookfield Asset Management said it will separate and list 25 percent of the stake in its asset management unit, months after it said it was considering the move to open up growth options, Reuters reported. Brookfield will initially hold a 75 percent stake in the new entity, with the rest distributed to shareholders by the year end. Both the parent organization and the separated unit will trade on the New York Stock Exchange and the Toronto Stock Exchange.

Source: Reuters