Brookfield to Create $5 Billion Retail Revitalization Program
07 Maio 2020 - 1:00PM
Brookfield Asset Management Inc. (“Brookfield”) (TSX: BAM.A, NYSE:
BAM) today announced the launch of a Retail Revitalization Program
(“the Program”) to bring much needed capital and assist with the
recapitalization of retail businesses with operations in the major
markets in which Brookfield operates globally. The Program, which
will be funded by Brookfield and its institutional partners, will
focus on non-control investments in retail businesses to assist
with their capital needs during this period of dislocation.
Brookfield is targeting $5 billion to be put toward this Program.
This Program will be led by Ron Bloom, Managing
Partner and Vice Chairman of Brookfield’s Private Equity Group, who
was a principal architect of the restructuring and rejuvenation of
the automobile industry on behalf of the U.S. government during the
2008 financial crisis. “This initiative is being designed to assist
medium sized enterprises in getting back on their feet. We believe
this is a critical component to getting the economy moving again,
and we would like to partner with companies and entrepreneurs that
can draw on our capital and expertise to stabilize and grow their
business,” stated Bloom.
In addition to capital, Brookfield intends to
make available its resources and expertise as one of the largest
global investors in both real estate and private equity, with a
focus on supporting long-term business performance. “We look
forward to contributing capital and expertise to support the retail
sector through this time and position businesses for long-term
success,” added Bloom.
The Retail Revitalization Program will focus on
retail businesses that have $250 million or greater in normalized
revenues and have been operating for at least two years.
Brookfield Asset Management
Inc. is a leading global alternative asset manager with
over US$515 billion of assets under management across real estate,
infrastructure, renewable power, private equity and credit.
Brookfield owns and operates long-life assets and businesses, many
of which form the backbone of the global economy. Utilizing its
global reach, access to large-scale capital and operational
expertise, Brookfield offers a range of alternative investment
products to investors around the world—including public and private
pension plans, endowments and foundations, sovereign wealth funds,
financial institutions, insurance companies and private wealth
investors. Brookfield Asset Management is listed on the New York
and Toronto stock exchanges under the symbol BAM and BAM.A
respectively. For more information, please visit our website at
www.brookfield.com.
For more information, please contact:
Media |
Investor Relations |
|
|
Claire Holland Tel: +1 416 369 8236 Email:
claire.holland@brookfield.com |
Linda Northwood Tel: +1 416 359 8647 Email:
linda.northwood@brookfield.com |
Notice to Readers
Brookfield is not making any offer or invitation
of any kind by communication of this news release and under no
circumstance is it to be construed as a prospectus or an
advertisement.
This news release contains “forward-looking
information” within the meaning of Canadian provincial securities
laws and “forward-looking statements” within the meaning of
Canadian provincial securities laws and “forward-looking
statements” within the meaning of the U.S. Securities Act of 1933,
the U.S. Securities Exchange Act of 1934, and, “safe harbor”
provisions of the United States Private Securities Litigation
Reform Act of 1995 and in any applicable Canadian securities
regulations.
Forward-looking statements include statements
that are predictive in nature, depend upon or refer to future
events or conditions, and include statements reflecting
management’s expectations regarding expected results, performance,
prospects, opportunities, priorities, targets (including targets
relating to fundraising or capital raises), goals, ongoing
objectives, strategies and outlook of Brookfield and its
subsidiaries, the Retail Revitalization Program, as well as the
outlook for North American and international economies for the
current fiscal year and subsequent periods, and include words such
as “expects,” “anticipates,” “plans,” “believes,” “estimates,”
“seeks,” “intends,” “targets,” “projects,” “forecasts” or negative
versions thereof and other similar expressions, or future or
conditional verbs such as “may,” “will,” “should,” “would” and
“could.”
Although Brookfield believes that such
forward-looking statements and information are based upon
reasonable assumptions and expectations, the reader should not
place undue reliance on forward-looking statements and information
because they involve known and unknown risks, uncertainties and
other factors, many of which are beyond our control, which may
cause the actual results, performance or achievements of Brookfield
to differ materially from anticipated future results, performance
or achievements expressed or implied by such forward-looking
statements and information.
Factors that could cause actual results to
differ materially from those contemplated or implied by
forward-looking statements include, but are not limited to: the
impact or unanticipated impact of general economic, political and
market factors in the countries in which we do business; the
behavior of financial markets, including fluctuations in interest
and foreign exchange rates; global equity and capital markets and
the availability of equity and debt financing and refinancing
within these markets; business competition; operational and
reputational risks; technological change; changes in government
regulation and legislation within the countries in which we
operate; changes in tax laws; the introduction, withdrawal, success
and timing of business initiatives and strategies; the existence of
information barriers between certain businesses within our asset
management operations; and other risks and factors detailed from
time to time in our documents filed with the securities regulators
in Canada and the United States.
We caution that the foregoing list of important
factors that may affect future results is not exhaustive and other
factors could also adversely affect its results. Investors and
other readers are urged to consider the foregoing risks, as well as
other uncertainties, factors and assumptions carefully in
evaluating the forward-looking information and are cautioned not to
place undue reliance on such forward-looking information. Except as
required by law, Brookfield undertakes no obligation to publicly
update or revise any forward-looking statements or information,
whether written or oral, that may be as a result of new
information, future events or otherwise.
No assurance, representation or warranty is made
by any person that targets expressed in the news release will be
achieved, and undue reliance should not be put on them. Past
performance is not indicative nor a guarantee of future
results.
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