TORONTO, ONTARIO--(Marketwired - Jul 25, 2014) - Brookfield Asset Management Inc. (BAM)(TSX:BAM.A)(EURONEXT:BAMA) ("Brookfield") announced today that it has acquired 611,220 Class A Shares (the "Shares") of Wilmington Capital Management Inc. ("Wilmington") pursuant to a private transaction.
Brookfield intends to hold the Shares for investment purposes. As a result of this transaction, Brookfield now owns and controls a total of 1,286,220 Class A Shares of Wilmington, representing approximately 17% of the issued and outstanding shares in the class.
The Shares were acquired for fair market value consideration of $2,298,187 paid in a non-interest bearing promissory note, which value represents $3.76 per Share. Brookfield may acquire additional securities of Wilmington but has no current plans to do so.
In accordance with National Instrument 62-103, an Early Warning Report will be filed in respect of the above transaction. A copy of such report may be obtained from SEDAR at www.sedar.com or from Brookfield as provided below.
Brookfield is located at Suite 300, 181 Bay Street, Toronto, Ontario, M5J 2T3.
Brookfield Asset Management Inc. is a global alternative asset manager with over $175 billion in assets under management. The company has over a 100-year history of owning and operating assets with a focus on property, renewable energy, infrastructure and private equity. Brookfield offers a range of public and private investment products and services, and is co-listed on the New York and Toronto Stock Exchanges under the symbols BAM and BAM.A, respectively, and on NYSE Euronext under the symbol BAMA. For more information, please visit our website at www.brookfield.com.