Brookfield Announces Termination of Swap Agreement with AIG
23 August 2013 - 10:30PM
Marketwired
Brookfield Asset Management Inc. ("Brookfield")
(NYSE:BAM)(TSX:BAM.A)(EURONEXT:BAMA) announced today that it has
reached agreement with American Insurance Group, Inc. ("AIG") to
terminate two related 25-year interest rate swap agreements
executed in 1990 between Brookfield and AIG (the "Swap Agreement").
As consideration for terminating the Swap Agreement, Brookfield
agreed to pay a single lump sum payment of US$905 million to AIG.
The Swap Agreement, which was accounted for in Brookfield's
financial statements as at June 30, 2013 as an approximate $1.4
billion liability, was subject to litigation that had been pending
in the United States District Court for the Southern District of
New York and will be dismissed in conjunction with the consensual
termination of the Swap Agreement.
More detailed information regarding the nature of this matter is
available in Brookfield's 2013 second quarter interim report filed
on EDGAR and SEDAR and also found in the investor section of its
website at www.brookfield.com.
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 power, infrastructure and
private equity. It has a range of public and private investment
products and services, which leverage its expertise and experience
and provide Brookfield with a competitive advantage in the markets
where it operates. Brookfield is co-listed on the New York and
Toronto stock exchanges under the symbol BAM and BAM.A,
respectively, and on NYSE Euronext under the symbol BAMA. For more
information, please visit our website at www.brookfield.com.
For more information, please visit our web site at
www.brookfield.com.
Contacts: Brookfield Asset Management Inc. Andrew Willis
Communications and Media (416) 369-8236 (416) 363-2856
(FAX)andrew.willis@brookfield.com Brookfield Asset Management Inc.
Amar Dhotar Investor Relations (416) 359-8629 (416) 363-2856
(FAX)amar.dhotar@brookfield.com www.brookfield.com
Brookfield Asset Managem... (TSX:BAM.A)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Brookfield Asset Managem... (TSX:BAM.A)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
Echtzeit-Nachrichten über Brookfield Asset Management Inc (Toronto Börse): 0 Nachrichtenartikel
Weitere Brookfield Asset Management Inc. News-Artikel