03:55:20 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Inc
Symbol BAM
Shares Issued 986,983,551
Close 2016-06-21 C$ 44.14
Market Cap C$ 43,565,453,941
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Globe/CP say Brookfield Asset eyes foreign Duke assets

2016-06-22 08:55 ET - In the News

The Globe and Mail reports in its Wednesday edition that Brookfield Asset Management and China Three Gorges Corp. are among companies weighing offers for Duke Energy's Latin American power plants. A Canadian Press dispatch to The Globe says that the China's State Power Investment Corp. is also considering bidding for the assets. The sale could fetch more than $2-billion (all figures U.S.). Duke Energy said in February it was considering the sale of about 4,400 megawatts of generating capacity in Central and South America. Half the assets are in Brazil, where drought and an economic downturn hurt Duke Energy's results last year, with the remainder in Argentina, Chile, Ecuador, El Salvador, Guatemala and Peru. Hydroelectric plants make up about two-thirds of the portfolio. Weak economic conditions in South America are driving Duke and its competitors to consider asset disposals. Chinese President Xi Jinping has sought to cut pollution and spur investment in non-fossil fuels in the second-largest economy. The country last year was the world's biggest investor in clean energy with $110.5-billion, almost double the U.S. investment. Brookfield earlier this year agreed to buy most of Colombia's Isagen SA for $2-billion.

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