16:52:22 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Inc
Symbol BAM
Shares Issued 987,249,812
Close 2016-09-21 C$ 44.18
Market Cap C$ 43,616,696,694
Recent Sedar Documents

Globe says Brookfield buys Performance Sports shares

2016-09-22 07:15 ET - In the News

See In the News (C-PSG) Performance Sports Group Ltd

The Globe and Mail reports in its Thursday edition that Brookfield Asset Management's private equity arm has bought almost 11 per cent of Performance Sports Group, signalling a show of support for the troubled sports equipment maker during its current rough patch. The Globe's Janet McFarland and Chistina Pellegrini write that Brookfield Capital Partners and some related entities have bought 4.9 million shares of PSG since Aug. 26, according to filings with the U.S. Securities and Exchange Commission. This raises questions about Brookfield's intentions for the maker of Bauer and Easton gear for hockey and baseball players. PSG is under investigation by the SEC, and has hired internal investigators to probe its accounting practices. The company debt load is $440-million (U.S.). As a private equity fund, Brookfield Capital often takes a controlling stake in underperforming companies to steer a turnaround. Some analysts have suggested PSG could create the most value for investors by selling off its businesses in pieces. Roth Capital Partners estimated in a Sept. 1 report that PSG's brands were worth about $1-billion (U.S.), with most of the value in Bauer. Other funds have also taken stakes in PSG.

© 2024 Canjex Publishing Ltd. All rights reserved.