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Also traded in: Belgium, Canada, Germany, Netherlands, UK

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 4/10

vs
industry
vs
history
Cash-to-Debt 0.12
BAM's Cash-to-Debt is ranked lower than
71% of the 1591 Companies
in the Global Real Estate - General industry.

( Industry Median: 0.37 vs. BAM: 0.12 )
Ranked among companies with meaningful Cash-to-Debt only.
BAM' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.03  Med: 0.16 Max: 4.39
Current: 0.12
0.03
4.39
Equity-to-Asset 0.15
BAM's Equity-to-Asset is ranked lower than
90% of the 1484 Companies
in the Global Real Estate - General industry.

( Industry Median: 0.46 vs. BAM: 0.15 )
Ranked among companies with meaningful Equity-to-Asset only.
BAM' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.11  Med: 0.2 Max: 0.46
Current: 0.15
0.11
0.46
Debt-to-Equity 2.74
BAM's Debt-to-Equity is ranked lower than
91% of the 1329 Companies
in the Global Real Estate - General industry.

( Industry Median: 0.71 vs. BAM: 2.74 )
Ranked among companies with meaningful Debt-to-Equity only.
BAM' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.2  Med: 2.06 Max: 5.24
Current: 2.74
0.2
5.24
Interest Coverage 1.07
BAM's Interest Coverage is ranked lower than
92% of the 1427 Companies
in the Global Real Estate - General industry.

( Industry Median: 10.93 vs. BAM: 1.07 )
Ranked among companies with meaningful Interest Coverage only.
BAM' s Interest Coverage Range Over the Past 10 Years
Min: 0.17  Med: 0.75 Max: 1.28
Current: 1.07
0.17
1.28
Piotroski F-Score: 5
Altman Z-Score: 0.57
Beneish M-Score: -2.20
WACC vs ROIC
5.51%
3.02%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating Margin % 11.72
BAM's Operating Margin % is ranked lower than
62% of the 1558 Companies
in the Global Real Estate - General industry.

( Industry Median: 17.87 vs. BAM: 11.72 )
Ranked among companies with meaningful Operating Margin % only.
BAM' s Operating Margin % Range Over the Past 10 Years
Min: 2.34  Med: 11.27 Max: 15.3
Current: 11.72
2.34
15.3
Net Margin % 4.52
BAM's Net Margin % is ranked lower than
68% of the 1569 Companies
in the Global Real Estate - General industry.

( Industry Median: 12.00 vs. BAM: 4.52 )
Ranked among companies with meaningful Net Margin % only.
BAM' s Net Margin % Range Over the Past 10 Years
Min: 3.76  Med: 9.18 Max: 15.44
Current: 4.52
3.76
15.44
ROE % 4.80
BAM's ROE % is ranked lower than
59% of the 1576 Companies
in the Global Real Estate - General industry.

( Industry Median: 6.60 vs. BAM: 4.80 )
Ranked among companies with meaningful ROE % only.
BAM' s ROE % Range Over the Past 10 Years
Min: 4.8  Med: 10.66 Max: 14.48
Current: 4.8
4.8
14.48
ROA % 0.85
BAM's ROA % is ranked lower than
70% of the 1617 Companies
in the Global Real Estate - General industry.

( Industry Median: 2.70 vs. BAM: 0.85 )
Ranked among companies with meaningful ROA % only.
BAM' s ROA % Range Over the Past 10 Years
Min: 0.73  Med: 1.71 Max: 2.66
Current: 0.85
0.73
2.66
ROC (Joel Greenblatt) % 13.17
BAM's ROC (Joel Greenblatt) % is ranked lower than
55% of the 1570 Companies
in the Global Real Estate - General industry.

( Industry Median: 15.99 vs. BAM: 13.17 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
BAM' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 8.87  Med: 16.54 Max: 27.27
Current: 13.17
8.87
27.27
3-Year Revenue Growth Rate 14.60
BAM's 3-Year Revenue Growth Rate is ranked higher than
72% of the 1327 Companies
in the Global Real Estate - General industry.

( Industry Median: 3.80 vs. BAM: 14.60 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
BAM' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -37.6  Med: 14.6 Max: 55.3
Current: 14.6
-37.6
55.3
3-Year EBITDA Growth Rate 5.20
BAM's 3-Year EBITDA Growth Rate is ranked higher than
51% of the 1121 Companies
in the Global Real Estate - General industry.

( Industry Median: 4.80 vs. BAM: 5.20 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
BAM' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 0  Med: 14.8 Max: 47
Current: 5.2
0
47
3-Year EPS without NRI Growth Rate -2.20
BAM's 3-Year EPS without NRI Growth Rate is ranked lower than
58% of the 1069 Companies
in the Global Real Estate - General industry.

( Industry Median: 3.80 vs. BAM: -2.20 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
BAM' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -30.1  Med: 17.15 Max: 220.6
Current: -2.2
-30.1
220.6
» BAM's 30-Y Financials

Financials (Next Earnings Date: 2017-11-11 Est.)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q3 2016

BAM Guru Trades in Q3 2016

Jim Simons 320,175 sh (+68.18%)
Ken Fisher 6,243 sh (+2.90%)
Tom Gayner 5,112,821 sh (+0.59%)
Jeremy Grantham Sold Out
Chris Davis 663,115 sh (-0.35%)
Murray Stahl 2,934,503 sh (-3.15%)
Third Avenue Management 4,399,779 sh (-4.15%)
Ron Baron 1,154,203 sh (-5.72%)
Glenn Greenberg 6,535,212 sh (-8.39%)
Lou Simpson 9,788,595 sh (-18.17%)
» More
Q4 2016

BAM Guru Trades in Q4 2016

Jim Simons 396,375 sh (+23.80%)
Glenn Greenberg 6,683,668 sh (+2.27%)
Tom Gayner 5,148,821 sh (+0.70%)
Ken Fisher Sold Out
Chris Davis 660,925 sh (-0.33%)
Third Avenue Management 4,299,141 sh (-2.29%)
Lou Simpson 8,252,026 sh (-15.70%)
Ron Baron 966,676 sh (-16.25%)
Murray Stahl 2,364,890 sh (-19.41%)
» More
Q1 2017

BAM Guru Trades in Q1 2017

Ken Fisher 5,886 sh (New)
Chris Davis 715,225 sh (+8.22%)
Tom Gayner 5,254,821 sh (+2.06%)
Third Avenue Management 4,295,013 sh (-0.10%)
Glenn Greenberg 6,636,977 sh (-0.70%)
Jim Simons 392,375 sh (-1.01%)
Murray Stahl 2,277,103 sh (-3.71%)
Lou Simpson 7,797,839 sh (-5.50%)
Ron Baron 725,408 sh (-24.96%)
» More
Q2 2017

BAM Guru Trades in Q2 2017

Ray Dalio 185,392 sh (New)
Ken Fisher 6,163 sh (+4.71%)
Tom Gayner 5,360,821 sh (+2.02%)
Ron Baron 725,408 sh (unchged)
Jim Simons Sold Out
Third Avenue Management 4,291,808 sh (-0.07%)
Chris Davis 710,109 sh (-0.72%)
Lou Simpson 7,732,296 sh (-0.84%)
Murray Stahl 1,984,232 sh (-12.86%)
Glenn Greenberg 4,690,948 sh (-29.32%)
» More
» Details

Insider Trades

Latest Guru Trades with BAM

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Lou Simpson 2017-06-30 Reduce -0.84%0.09%$36.22 - $40.09 $ 40.157%7,732,296
Tom Gayner 2017-06-30 Add 2.02%0.09%$36.22 - $40.09 $ 40.157%5,360,821
Glenn Greenberg 2017-06-30 Reduce -29.32%3.39%$36.22 - $40.09 $ 40.157%4,690,948
Third Avenue Management 2017-06-30 Reduce -0.07%0.01%$36.22 - $40.09 $ 40.157%4,291,808
Chris Davis 2017-06-30 Reduce -0.72%$36.22 - $40.09 $ 40.157%710,109
Ken Fisher 2017-06-30 Add 4.71%$36.22 - $40.09 $ 40.157%6,163
Lou Simpson 2017-03-31 Reduce -5.50%0.63%$32.94 - $37.37 $ 40.1513%7,797,839
Glenn Greenberg 2017-03-31 Reduce -0.70%0.07%$32.94 - $37.37 $ 40.1513%6,636,977
Tom Gayner 2017-03-31 Add 2.06%0.09%$32.94 - $37.37 $ 40.1513%5,254,821
Third Avenue Management 2017-03-31 Reduce -0.10%0.01%$32.94 - $37.37 $ 40.1513%4,295,013
Ron Baron 2017-03-31 Reduce -24.96%0.04%$32.94 - $37.37 $ 40.1513%725,408
Chris Davis 2017-03-31 Add 8.22%0.01%$32.94 - $37.37 $ 40.1513%715,225
Ken Fisher 2017-03-31 New Buy$32.94 - $37.37 $ 40.1513%5,886
Lou Simpson 2016-12-31 Reduce -15.70%2.15%$32.54 - $36.09 $ 40.1518%8,252,026
Glenn Greenberg 2016-12-31 Add 2.27%0.23%$32.54 - $36.09 $ 40.1518%6,683,668
Tom Gayner 2016-12-31 Add 0.70%0.03%$32.54 - $36.09 $ 40.1518%5,148,821
Third Avenue Management 2016-12-31 Reduce -2.29%0.16%$32.54 - $36.09 $ 40.1518%4,299,141
Ron Baron 2016-12-31 Reduce -16.25%0.04%$32.54 - $36.09 $ 40.1518%966,676
Chris Davis 2016-12-31 Reduce -0.33%$32.54 - $36.09 $ 40.1518%660,925
Ken Fisher 2016-12-31 Sold Out $32.54 - $36.09 $ 40.1518%0
Lou Simpson 2016-09-30 Reduce -18.17%3.04%$32.54 - $35.49 $ 40.1517%9,788,595
Glenn Greenberg 2016-09-30 Reduce -8.39%1.11%$32.54 - $35.49 $ 40.1517%6,535,212
Tom Gayner 2016-09-30 Add 0.59%0.03%$32.54 - $35.49 $ 40.1517%5,112,821
Third Avenue Management 2016-09-30 Reduce -4.15%0.28%$32.54 - $35.49 $ 40.1517%4,399,779
Ron Baron 2016-09-30 Reduce -5.72%0.01%$32.54 - $35.49 $ 40.1517%1,154,203
Chris Davis 2016-09-30 Reduce -0.35%$32.54 - $35.49 $ 40.1517%663,115
Ken Fisher 2016-09-30 Add 2.90%$32.54 - $35.49 $ 40.1517%6,243
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Preferred stocks of Brookfield Asset Management Inc

SymbolPriceYieldDescription
BAM.PR.T.Canada20.420.00A
BAM.PR.K.Canada14.160.83Cum Red Pfd Shs -A- Series -13-
BAM.PR.X.Canada17.331.66Cum Pref -A- Series -28
BAM.PR.C.Canada14.150.83Cum Red Pfd Shs -A- Series -4-
BAM.PF.I.Canada25.580.00Cum Red Pref Registered Shs -A- Series -46-
BAM.PR.E.Canada19.580.00Cum Pfd Shs -A- Series -8- Fltg Rt Exch into Series 9 Shs
BAM.PR.M.Canada21.600.004 3/4 % Cum Conv Pfd Shs -A- Series 17
BAM.PF.A.Canada23.890.00Cum Pfd -A- Series -32-
BAM.PR.Z.Canada24.651.22Cum Pref -A- Series -30-
BAM.PR.R.Canada19.980.94Cum Pfd Shs -A- Series -24-
BAM.PF.B.Canada22.860.00Cum Pfd Shs -A- Series -34-
BAM.PR.B.Canada14.270.83Preferred
BAM.PR.N.Canada21.540.004 3/4 % Cum Pref Shs -A- Series -18-
BAM.PR.G.Canada17.060.005.63 % Cum Pfd Shs -A- Series -9- Exch into Series 8
BAM.PF.C.Canada21.940.00Cum Red Pfd Shs -A- Series -36-
BAM.PR.S.Canada19.840.00A
BAM.PF.D.Canada22.201.38Cum Red Pfd Shs A Sr 37
BAMGF16.320.88Cum Pfd Shs -A- Series -24-
BAM.PR.L.Canada100.101.89
BAM.PF.E.Canada22.480.00Cum Pref Shs -A- Non-Voting Series -38-
BAM.PF.F.Canada23.851.18Cum Pref Shs -A- Series -40-
BAM.PF.G.Canada23.880.00Cum Red Pref Shs -A- Series -42-
BAM.PF.H.Canada26.000.00Cum Red Pref Shs -A- Series -44-
BAMKF16.420.00A
BAM.PF.J.Canada25.180.00Cum Conv Red Pref Registered Shs -A- Series -48-

Business Description

Industry: Real Estate Services » Real Estate - General    NAICS: 531120    SIC: 7299
Compare:TSX:DRM, TSX:MRD, TSX:GDC, TSXV:HMT, TSXV:TII, TSX:BEK.B, TSXV:CXA.H, XCNQ:ACM, TSXV:FDI, XCNQ:AFD, XCNQ:MVT, TSXV:TSP, XCNQ:CIM, TSXV:RPP, TSXV:LES.H, TSXV:NNP, TSXV:TRU » details
Traded in other countries:BAM.Belgium, BAM.A.Canada, BKAA.Germany, BAMA.Netherlands, 0KEH.UK,
Headquarter Location:Canada
Brookfield Asset Management Inc is an alternative asset management company focused on property, renewable energy, infrastructure and private equity.

Brookfield Asset Management owns and manages commercial property (mainly office, but also retail and residential), power (mainly hydroelectric), and infrastructure (timberlands and power transmission) assets. Located around the world, its assets are concentrated in the United States, Canada, Brazil, and Australia.

Guru Investment Theses on Brookfield Asset Management Inc

Baron Funds Comments on Brookfield Asset Management - May 23, 2016

Shares of Brookfield Asset Management, Inc. (NYSE:BAM) rose in the first quarter due to strong conditions in most of its business segments. The company is a global alternative asset manager with approximately $200 billion in assets under management, with a focus on real estate property, infrastructure, renewable energy, and private equity. A high quality portfolio, stable cash flows and attractive growth opportunities, global scale, a quality balance sheet, and an excellent management team with significant insider ownership support our favorable view.



From Baron Fifth Avenue Growth Fund first quarter 2016 commentary.



Check out Ron Baron latest stock trades

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Brookfield to Acquire Controlling Stake and Assume Sponsorship of TerraForm Power

Brookfield to become cornerstone investor in TerraForm Power with 51% ownership
 TerraForm Power Class A shareholders to receive $11.46 per share in cash with option for shareholders to elect shares in order to participate in future upside potential
 Brookfield is a world-class sponsor, providing numerous benefits to TerraForm Power 

- Management expertise in operating renewable assets with decades of experience 
- Financial strength to help TerraForm Power improve its access to capital
- ~3,500 MW ROFO portfolio of wind and solar plants, providing visibility to growth
- $500M sponsor equity line to support acquisitions and accretive growth BETHESDA, Md. and NEW YORK, March 07, 2017 (GLOBE NEWSWIRE) -- TerraForm Power, Inc. (NASDAQ:TERP) (“TerraForm Power”), an owner and operator of clean energy power plants, and Brookfield Asset Management Inc. (:BAM) (TSX:BAM.A) (EURONEXT AMSTERDAM:BAMA) (“Brookfield”), a leading global alternative asset manager, today announced that they have entered into a definitive agreement under which Brookfield will assume the role of TerraForm Power’s sponsor and Brookfield will become the controlling shareholder. “With the successful completion of the Board’s strategic alternatives process, the TerraForm Power Board and management team are confident that Brookfield’s sponsorship will enable our company to deliver cash to shareholders while strengthening our operations for future value creation,” said Peter Blackmore, Chairman and Interim Chief Executive Officer of TerraForm Power. “This agreement with Brookfield is the culmination of our efforts to separate our operations from SunEdison and to position TerraForm Power for future success. With the support of Brookfield as TerraForm Power’s sponsor, we will gain additional resources to continue to expand our portfolio and increase cash flow on a per share basis. We look forward to working with the talented Brookfield team to achieve a smooth transition.” “We are pleased to increase our significant investment in TerraForm Power and to contribute our operating expertise in the sector to position the company for growth,” said Sachin Shah, Senior Managing Partner of Brookfield. “We are confident that our significant renewable power operating experience, financial resources and global institutional relationships will provide TerraForm Power with strong financial flexibility and an attractive pipeline for growth moving forward. We look forward to participating alongside all shareholders in capturing future upside and helping the business to achieve its full potential over time.” “SunEdison is supporting this transaction, which it believes maximizes potential proceeds for the estate and aligns Brookfield with the interests of TerraForm Power in the future to create value,” said John Dubel, Chief Executive Officer and Chief Restructuring Officer of SunEdison Inc. (“SunEdison”). The transaction has been approved by the Board of Directors of TerraForm Power by all directors voting upon the recommendation of the Corporate Governance and Conflicts Committee of TerraForm Power and has also been approved by the Board of Directors of Brookfield. The transaction also has the support of SunEdison. Transaction Details Key terms of the agreement: 51.0% Brookfield ownership in TerraForm Power post-closing$11.46 price per Class A share (derived from a pre-SunEdison settlement price of $12.00 per share), with option for shareholders to elect to receive shares as described below~3,500 MW Right of First Offer (“ROFO”) portfolio provided by Brookfield to TerraForm Power, representing ~1,200 MW of operating wind plants and ~2,300 MW of development-stage wind and solar projects in North America and Western Europe$500 million sponsor equity line offered by Brookfield to support future growth for TerraForm Power$1.7 billion implied total equity value$6.6 billion implied total enterprise value For each Class A share, TerraForm Power shareholders (excluding Brookfield) will be entitled to: $1.94 per share in the form of a special dividend  And either  $9.52 per share in additional cashOR1 share in TerraForm Power post-closing $11.46 per share cash consideration and 0 shares  $1.94 per share in cash and 1 share This structure is subject to proration, meaning that shareholders that elect cash may still retain a portion of their shares, and conversely, shareholders that elect to retain their shares may still receive a portion of their consideration in cash.
Assuming full proration, Class A shareholders would be entitled to: $1.94 per share in the form of a special dividend
$4.50 per share in additional cash consideration for Class A shareholders (excluding Brookfield)
$6.44 per share total cash consideration and 0.53 shares in TerraForm Power post-closing Post transaction closing, non-Brookfield shareholders, will hold 49.0% ownership in TerraForm Power. As part of the transaction, Brookfield and TerraForm Power will enter into a Master Services Agreement whereby Brookfield will provide strategic services and long-term investment advisory services. In return, Brookfield will receive an annual management fee as well as a management incentive fee and incentive distribution rights aligning Brookfield’s incentives with TerraForm Power’s public shareholders. The Merger Agreement entitles Brookfield to receive additional Class A Shares from TerraForm Power based upon the costs to TerraForm Power of resolving certain pending Company litigation matters, whether resolved before or after closing of the Merger. Brookfield Asset Management: Uniquely positioned to serve as Sponsor of TerraForm Power Brookfield’s sponsorship is expected to position TerraForm Power as a premier wind and solar energy company focused on North America and Western Europe, consistent with Brookfield’s history of delivering strong total shareholder returns for its other public vehicles. As TerraForm Power’s new sponsor, Brookfield expects to deleverage TerraForm Power with the goal of achieving investment grade credit ratings in the medium to long term. With the support of Brookfield, TerraForm Power will be well positioned for growth with access to one of the largest ROFO pipelines in the sector. Following this transaction, Brookfield and TerraForm Power will be both economically and structurally aligned. Brookfield Asset Management has approximately $250 billion in assets under management, and an established track record of sponsorship across its business groups. Brookfield possesses the unique ability to provide the strategic management, operating, investing, funding and related services required of a long-term sponsor. Brookfield also has substantial financial resources and relationships with global institutions that are expected to increase TerraForm Power’s financial flexibility, and provide improved access to capital. One of Brookfield’s core operational capabilities is in renewable power, in which it owns, operates and develops over 17,000 megawatts of assets, representing $30 billion in power assets, across eight countries, with over 2,000 operating employees with expertise in asset-level operations and maintenance, power marketing and sales and development, health, safety, security and the environment, stakeholder relations and regulatory oversight. TerraForm Power’s Settlement Agreement with SunEdison As part of its strategic alternatives process, TerraForm Power also announced that it has entered into a settlement agreement with SunEdison in connection with the Chapter 11 bankruptcy case of SunEdison (the “SunEdison Bankruptcy”). This agreement is subject to the approval of the U.S. bankruptcy court overseeing the SunEdison Bankruptcy. The settlement agreement contains certain terms to resolve the legal relationship between TerraForm Power and SunEdison, including, among other things, an allocation of ownership in TerraForm Power prior to the transaction and, with certain exceptions, the full mutual release of all claims of SunEdison and its affiliated debtors and non-debtors. All Class B Shares of TerraForm Power and Class B Units of TerraForm Power LLC held by SunEdison will be exchanged for Class A Shares immediately prior to completion of the transaction. The settlement then increases SunEdison’s ownership of TERP to 36.9% by issuing approximately 6.6 million incremental shares to SunEdison immediately prior to completion of the transaction, reflecting the settlement of intercompany claims, cancellation of incentive distribution rights and other factors considered by TerraForm Power’s Board. In addition, SunEdison will have the option, in certain circumstances following a termination of the Merger Agreement, to convert its Class B Shares into an amount of Class A Shares representing 36.9% of the total Class A Shares. The TerraForm Power Board of Directors approved the settlement agreement upon the recommendation of the Corporate Governance and Conflicts Committee, each member of which is independent and does not also serve on the Board of Directors of TerraForm Global. The settlements of the intercompany claims are also subject to the approval of the U.S. bankruptcy court overseeing the SunEdison Bankruptcy. Additional information about the settlement agreement can be found in the Current Report on Form 8-K that TerraForm Power filed with the Securities and Exchange Commission today. A copy of the filing is available on the Investors page of TerraForm Power’s website at http://www.terraformpower.com. Timing to Close and Approvals The transaction is expected to be completed in the second half of 2017 and is subject to certain closing conditions, including shareholder approval by the majority of Class A shareholders (excluding SunEdison, Brookfield, their respective affiliates and any persons with whom they comprise a “group” for securities law purposes), regulatory approvals, and the approval of the U.S. bankruptcy court overseeing the SunEdison Chapter 11 case, including the Court’s approval of the settlement agreement between TerraForm Power and SunEdison and the Court’s approval of SunEdison’s vote in favor of the sponsorship transaction. The completion of this transaction is independent of and not subject to the completion of Brookfield’s transaction with TerraForm Global, Inc., also announced today. Advisors Morgan Stanley, Centerview Partners and AlixPartners acted as financial advisors to TerraForm Power on this transaction. Sullivan & Cromwell LLP and Sidley Austin LLP acted as legal counsel for TerraForm Power. Greenberg Traurig LLP and Hughes Hubbard & Reed LLP acted as legal counsel for the independent directors and the Corporate Governance and Conflicts Committee. Cravath, Swaine & Moore LLP acted as legal advisors to Brookfield. Rothschild and Ankura Consulting acted as financial advisors to SunEdison. Skadden Arps acted as legal counsel for SunEdison. For certain of SunEdison’s second lien creditor constituents, J.P. Morgan Securities LLC and Houlihan Lokey acted as financial advisors, and Akin Gump acted as legal counsel. Investor Conference Call Brookfield and TerraForm Power will host a conference call to discuss the transaction. Details below: Date:Tuesday, March 7, 2017Time:8:30 am ETUS / Canada toll-free #:  (844) 464-3938International #:(765) 507-2638Conference call code:83463618Webcast: http://edge.media-server.com/m/p/gcrpa4fu The webcast will also be available on TerraForm Power's investor relations website: www.terraformpower.com. A replay of the webcast will be available for those unable to attend the live webcast. About TerraForm Power TerraForm Power is a renewable energy company that is changing how energy is generated, distributed and owned. TerraForm Power creates value for its investors by owning and operating clean energy power plants. For more information about TerraForm Power, please visit: www.terraformpower.com. About Brookfield Asset Management Brookfield Asset Management Inc. is a leading global alternative asset manager with approximately $250 billion in assets under management. The company has more than a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. Brookfield offers a range of public and private investment products and services, and is co-listed on the New York, Toronto and Euronext stock exchanges under the symbol BAM, BAM.A and BAMA, respectively. For more information, please visit our website at www.brookfield.com. TerraForm Power: Cautionary Note Regarding Forward-Looking Statements This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts.  These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks, and uncertainties and typically include words or variations of words such as “expect,” “anticipate,” “believe,” “intend,” “plan,” “seek,” “estimate,” “predict,” “project,” “goal,” “guidance,” “outlook,” “objective,” “forecast,” “target,” “potential,” “continue,” “would,” “will,” “should,” “could,” or “may” or other comparable terms and phrases.  All statements that address operating performance, events, or developments that the Company or Brookfield expect or anticipate will occur in the future are forward-looking statements.  They may include estimates of financial metrics such as expected adjusted earnings before interest, taxes, depreciation and amortization, cash available for distribution, earnings, revenues, capital expenditures, liquidity, capital structure, future growth, financing arrangement and other financial performance items (including future dividends per share), descriptions of management’s plans or objectives for future operations, products, or services, or descriptions of assumptions underlying any of the above.  Forward-looking statements are based on the Company’s current expectations or predictions of future conditions, events, or results and speak only as of the date they are made.  Although the Company and Brookfield believe their respective expectations and assumptions are reasonable, they can give no assurance that these expectations and assumptions will prove to have been correct and actual results may vary materially. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements.  Factors that might cause such differences include, but are not limited to, the expected timing and likelihood of completion of the Transactions, including the timing, receipt and terms and conditions of any required governmental approvals of the Merger or the other Transactions that could cause the parties to abandon the transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the Transaction Agreement; the risk of failure by the Bankruptcy Court to confirm the Settlement Agreement, the Voting and Support Agreement and any other agreement entered into in connection with the Merger or the Transactions to which SunEdison or any other debtor will be a party; the risk of failure of the holders of a majority of the outstanding Shares to adopt the Transaction Agreement and to obtain the requisite stockholder approvals; the risk that the parties may not be able to satisfy the conditions to the Transactions in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the Transactions; the risk that any announcements relating to the Transactions could have adverse effects on the market price of the Company’s common stock; the risk that the Transactions and their announcement could have an adverse effect on the Company’s ability to retain and hire key personnel and maintain relationships with its suppliers and customers and on its operating results and businesses generally; the Company’s relationship with SunEdison, including SunEdison’s bankruptcy filings; risks related to events of default and potential events of default arising under project-level financings and other agreements due to various factors; risks related to the Company’s failure to satisfy continued listing requirements of NASDAQ; the Company’s ability to sell projects at attractive prices as well as to integrate the projects the Company acquires from third parties or otherwise realize the anticipated benefits from such acquisitions, including through refinancing or future sales; actions of third parties, including but not limited to the failure of SunEdison to fulfill its obligations and the actions of the Company’s bondholders and other creditors; price fluctuations, termination provisions and buyout provisions in offtake agreements; delays or unexpected costs during the completion of projects the Company intends to acquire; regulatory requirements and incentives for production of renewable power; operating and financial restrictions under agreements governing indebtedness; the condition of the debt and equity capital markets and the Company’s ability to borrow additional funds and access capital markets; the impact of foreign exchange rate fluctuations; the Company’s ability to compete against traditional and renewable energy companies; hazards customary to the power production industry and power generation operations, such as unusual weather conditions and outages or other curtailment of the Company’s power plants; departure of some or all of SunEdison’s employees, particularly key employees and operations and maintenance or asset management personnel that the Company significantly relies upon; pending and future litigation; and the Company’s ability to operate the Company’s business efficiently, including to manage the transition from SunEdison information technology, technical, accounting and generation monitoring systems, to manage and complete governmental filings on a timely basis, and to manage the Company’s capital expenditures.  Many of these factors are beyond the Company or Brookfield’s control. The Company and Brookfield disclaim any obligation to update or revise any forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information, data, or methods, future events, or other changes, except as required by law.  The foregoing list of factors that might cause results to differ materially from those contemplated in the forward-looking statements should be considered in connection with information regarding risks and uncertainties which are described in the Company’s Form 10-K for the 2015 fiscal year and Forms 10-Q for the first, second and third quarters of 2016, as well as additional factors it may describe from time to time in other filings with the SEC or incorporated herein.  You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties. TerraForm Power: Additional Information and Where to Find It This communication may be deemed to be solicitation material in respect of the proposed transactions described herein.  In connection with the proposed transactions, Brookfield and the Company intend to file relevant materials with the SEC, including the Company’s proxy statement on Schedule 14A.  STOCKHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE COMPANY’S PROXY STATEMENT, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS.  Investors and security holders will be able to obtain the documents free of charge at the SEC’s website, http://www.sec.gov.  The Company’s stockholders will also be able to obtain, without charge, a copy of the proxy statement and other relevant documents (when available) by directing a request by mail or telephone to TerraForm Power, Inc., 7550 Wisconsin Avenue, 9th Floor, Bethesda, Maryland 20814: (240) 762-7700, or from the Company’s website, https://www.terraformpower.com/.  The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the holders of the Company’s common stock in respect of the proposed transactions.  Information about the directors and executive officers of the Company and the interests of such individuals will be set forth in the proxy statement for the transactions, which will be filed with the SEC.  You may obtain free copies of the proxy statement as described above, when it is available. Brookfield: Cautionary Note Regarding Forward-Looking Statements This communication contains "forward-looking information" within the meaning of Canadian provincial securities laws and "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, "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, include statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of Brookfield and its subsidiaries 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.“ Forward-looking statements contained herein include statements with respect to the transaction with TerraForm Power and our expectations for this entity; the anticipated benefits of the sponsorship transaction; and other statements with respect to our beliefs, outlooks, plans, expectations and intentions. Although Brookfield Asset Management believes that TerraForm Power’s anticipated future results, performance or achievements expressed or implied by the 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 as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievement 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 and our ability to access the capital markets and credit markets; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; the threat of litigation, whether with respect to this transaction, TerraForm Power or otherwise; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation within the countries in which we operate or which TerraForm Power operates; governmental investigations; changes in tax laws; ability to collect amounts owed; catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts and cyber terrorism; 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. When relying on our forward-looking statements to make decisions with respect to Brookfield Asset Management or TerraForm Power, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. 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. This does not constitute an offer of any Brookfield fund.
Contacts

Investors for TerraForm Power:
Brett Prior
Head of Investor Relations
[email protected]
(650) 889-8628

Media for TerraForm Power:
Meaghan Repko / Joseph Sala
Joele Frank, Wilkinson Brimmer Katcher
[email protected]
(212) 355-4449

For Brookfield:
Claire Holland
Vice President, Communications
[email protected]
(416) 369-8236

Read more...
Brookfield to Acquire TerraForm Global

BETHESDA, Md., March 07, 2017 (GLOBE NEWSWIRE) -- TerraForm Global, Inc. (NASDAQ:GLBL) (“TerraForm Global” or the “Company”), an owner and operator of clean energy power plants, today announced that it has entered into a definitive merger agreement under which Brookfield Asset Management Inc. (:BAM) (TSX:BAM.A) (EURONEXT AMSTERDAM:BAMA) (“Brookfield”), a leading global alternative asset manager, will acquire TerraForm Global for approximately $787 million in cash and will assume approximately $455 million in net debt, representing an enterprise value of approximately $1.3 billion. TerraForm Global owns and operates, or has contracts to acquire, a fleet of 31 wind and solar power plants totaling 952 MW of capacity spread across Brazil, India, China, South Africa, Thailand, Malaysia, and Uruguay.
Transaction Details Under the terms of the merger agreement, Brookfield will purchase all of the outstanding Class A shares of TerraForm Global for $5.10 per share in cash. For Class A shareholders, this represents a premium of approximately 50% to TerraForm Global’s closing share price on September 16, 2016, the last trading day prior to TerraForm Global’s announcement that its Board of Directors had initiated an exploration of strategic alternatives to maximize shareholder value. Immediately prior to the merger, pursuant to a settlement agreement entered into between TerraForm Global and SunEdison, Inc. (“SunEdison”) will exchange all of its Class B shares and TerraForm Global, LLC Class B units into 25% of the outstanding Class A shares on a fully diluted basis. The transaction has been approved by the Board of Directors of TerraForm Global, acting on the recommendation of its Corporate Governance and Conflicts Committee, and has also been approved by the Board of Directors of Brookfield. This transaction also has the support of SunEdison. Compelling Strategic and Financial Rationale “We are pleased to have reached a successful completion of TerraForm Global’s strategic alternatives process to maximize value for our shareholders,” said Peter Blackmore, Chairman and Interim Chief Executive Office of TerraForm Global. “After a thorough review of alternatives and the significant steps taken by the Board and management to best position TerraForm Global for success, we are confident a sale to Brookfield is the best possible transaction for our shareholders. We look forward to working closely with Brookfield’s experienced team to achieve a timely closing and a seamless transition." “SunEdison is supportive of this transaction which we believe maximizes value for the estate and the independent shareholders of TerraForm Global,” said John Dubel, Chief Executive Officer and Chief Restructuring Officer of SunEdison. Approvals and Timing to Close The transaction is expected to be completed in the second half of 2017 and is subject to certain closing conditions, including shareholder approval by the majority of Class A shareholders (excluding SunEdison and Brookfield), regulatory approvals, the resolution of certain litigation against TerraForm Global, and certain approvals from the U.S. bankruptcy court overseeing the SunEdison Chapter 11 bankruptcy case, including the Court’s approval of the settlement agreement between TerraForm Global and SunEdison, and the Court’s approval of SunEdison’s vote in favor of the Brookfield transaction. The completion of this transaction is not subject to the completion of Brookfield’s transaction with TerraForm Power, Inc. also announced today. TerraForm Global’s Settlement Agreement with SunEdison TerraForm Global also announced today that it has entered into a settlement agreement with SunEdison in connection with the Chapter 11 bankruptcy case of SunEdison (the “SunEdison Bankruptcy”). This agreement is subject to the approval of the U.S. bankruptcy court overseeing the SunEdison Bankruptcy. The settlement agreement contains certain terms to resolve the complex legal relationship between TerraForm Global and SunEdison, including, among other things, an allocation of the total consideration paid in connection with the Brookfield transaction and, with certain exceptions, the full mutual release of all claims between SunEdison and its affiliated debtors and non-debtors and TerraForm Global and its subsidiaries. Under the settlement terms, following the exchange of all of its Class B shares and TerraForm Global, LLC Class B units for Class A shares, SunEdison will receive consideration equal to 25% of the total consideration paid to all of TerraForm Global’s shareholders, reflecting the settlement of intercompany claims and cancellation of incentive distribution rights. The remaining 75% of the consideration will be distributed to existing Class A shareholders. In connection with the merger agreement, SunEdison, TerraForm Global and Brookfield entered into a voting and support agreement under which SunEdison agreed to vote all of its shares of TerraForm Global in favor of the Brookfield transaction. This agreement is also subject to the approval of the U.S. bankruptcy court overseeing the SunEdison Bankruptcy. The settlement agreement has been approved by the Board of Directors of TerraForm Global, acting on the recommendation of its Corporate Governance and Conflicts Committee. Additional information about the merger agreement and the settlement agreement can be found in the Current Report on Form 8-K that TerraForm Global filed with the Securities and Exchange Commission today. A copy of the filing is available on the Investors page of TerraForm Global’s website at http://www.terraformglobal.com. Advisors Greentech Capital Advisors, Centerview Partners, and AlixPartners acted as financial advisors to TerraForm Global on this transaction. Sullivan & Cromwell LLP acted as legal counsel for TerraForm Global. Greenberg Traurig, LLP and Robbins, Russell, Englert, Orseck, Untereiner & Sauber, LLP acted as legal counsel for the independent directors and the Corporate Governance and Conflicts Committee. Rothschild and Ankura Consulting acted as financial advisors to SunEdison. Skadden Arps acted as legal counsel for SunEdison. For certain of SunEdison’s second lien creditor constituents, J.P. Morgan Securities LLC and Houlihan Lokey acted as financial advisors, and Akin Gump acted as legal counsel. About TerraForm Global TerraForm Global is a renewable energy company that is changing how energy is generated, distributed and owned. TerraForm Global creates value for its investors by owning and operating clean energy power plants in high-growth emerging markets. For more information about TerraForm Global, please visit: www.terraformglobal.com. Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts.  These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks, and uncertainties and typically include words or variations of words such as “expect,” “anticipate,” “believe,” “intend,” “plan,” “seek,” “estimate,” “predict,” “project,” “goal,” “guidance,” “outlook,” “objective,” “forecast,” “target,” “potential,” “continue,” “would,” “will,” “should,” “could,” or “may” or other comparable terms and phrases.  All statements that address operating performance, events, or developments that the Company expects or anticipates will occur in the future are forward-looking statements.  They may include financial metrics such as estimates of expected adjusted earnings before interest, taxes, depreciation and amortization, cash available for distribution, earnings, revenues, capital expenditures, liquidity, capital structure, future growth, financing arrangement and other financial performance items (including future dividends per share), descriptions of management’s plans or objectives for future operations, products, or services, or descriptions of assumptions underlying any of the above.  Forward-looking statements are based on the Company’s current expectations or predictions of future conditions, events, or results and speak only as of the date they are made.  Although the Company believes its respective expectations and assumptions are reasonable, it can give no assurance that these expectations and assumptions will prove to have been correct and actual results may vary materially. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements.  Factors that might cause such differences include, but are not limited to, the expected timing and likelihood of completion of the Merger, including the timing, receipt and terms and conditions of any required governmental approvals of the Merger that could cause the parties to abandon the transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; the risk of failure by the Bankruptcy Court to confirm the Settlement Agreement, the Voting and Support Agreement and any other agreement entered into in connection with the Merger or the other transactions contemplated by the Merger Agreement to which SunEdison or any other debtor will be a party; the risk of failure of the holders of a majority of the outstanding Shares to adopt the Merger Agreement and of the holders of a majority of the Class A Shares other than SunEdison and its affiliates and Brookfield and its affiliates to approve the Merger Agreement and the transactions contemplated by the Merger Agreement; the risk that the parties may not be able to satisfy the conditions to the Merger in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the Merger; the risk that any announcements relating to the Merger could have adverse effects on the market price of the Company’s common stock; the risk that the proposed transaction and its announcement could have an adverse effect on the Company’s ability to retain and hire key personnel and maintain relationships with its suppliers and customers and on its operating results and businesses generally; the Company’s relationship with SunEdison, including SunEdison’s bankruptcy filings; risks related to events of default and potential events of default arising under project-level financings and other agreements due to various factors; risks related to the Company’s failure to satisfy continued listing requirements of NASDAQ; the Company’s ability to acquire projects at attractive prices as well as to integrate the projects the Company acquires from third parties or otherwise realize the anticipated benefits from such acquisitions, including through refinancing or future sales; actions of third parties, including but not limited to the failure of SunEdison to fulfill its obligations and the actions of the Company’s bondholders and other creditors; price fluctuations, termination provisions and buyout provisions in offtake agreements; delays or unexpected costs during the completion of projects the Company intends to acquire; regulatory requirements and incentives for production of renewable power; operating and financial restrictions under agreements governing indebtedness; the condition of the debt and equity capital markets and the Company’s ability to borrow additional funds and access capital markets; the impact of foreign exchange rate fluctuations; the Company’s ability to compete against traditional and renewable energy companies; hazards customary to the power production industry and power generation operations, such as unusual weather conditions and outages or other curtailment of the Company’s power plants; departure of some or all of SunEdison’s employees, particularly key employees and operations and maintenance or asset management personnel that the Company significantly relies upon; pending and future litigation; and the Company’s ability to operate the Company’s business efficiently, including to manage the transition from SunEdison information technology, technical, accounting and generation monitoring systems, to manage and complete governmental filings on a timely basis, and to manage the Company’s capital expenditures, economic, social and political risks and uncertainties inherent in international operations, including operations in emerging markets and the impact of foreign exchange rate fluctuations, the imposition of currency controls and restrictions on repatriation of earnings and cash, protectionist and other adverse public policies, including local content requirements, import/export tariffs, increased regulations or capital investment requirements, conflicting international business practices that may conflict with other customs or legal requirements to which we are subject, the inability to obtain, maintain or enforce intellectual property rights, and being subject to the jurisdiction of courts other than those of the United States, including uncertainty of judicial processes and difficulty enforcing contractual agreements or judgments in foreign legal systems or incurring additional costs to do so. Many of these factors are beyond the Company’s control. The Company disclaims any obligation to update or revise any forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information, data, or methods, future events, or other changes, except as required by law.  The foregoing list of factors that might cause results to differ materially from those contemplated in the forward-looking statements should be considered in connection with information regarding risks and uncertainties which are described in the Company’s Form 10-K for the 2015 fiscal year and Forms 10-Q for the first, second and third quarters of 2016, as well as additional factors it may describe from time to time in other filings with the SEC or incorporated herein.  You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties. Additional Information and Where to Find It This communication may be deemed to be solicitation material in respect of the proposed acquisition of the Company by Parent.  In connection with the proposed acquisition, Parent and the Company intend to file relevant materials with the SEC, including the Company’s proxy statement on Schedule 14A.  STOCKHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE COMPANY’S PROXY STATEMENT, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.  Investors and security holders will be able to obtain the documents free of charge at the SEC’s website, http://www.sec.gov.  The Company’s stockholders will also be able to obtain, without charge, a copy of the proxy statement and other relevant documents (when available) by directing a request by mail or telephone to TerraForm Global, Inc., 7550 Wisconsin Avenue, 9th Floor, Bethesda, Maryland 20814: (240) 762-7700, or from the Company’s website, https://www.terraformglobal.com/.
Contacts

Investors for TerraForm Global:
Brett Prior
Head of Investor Relations
[email protected]
(650) 889-8628

Media for TerraForm Global:
Meaghan Repko / Joseph Sala
Joele Frank, Wilkinson Brimmer Katcher
[email protected]
(212) 355-4449

Read more...
Predictable Companies Gurus Are Buying At least 5 gurus hold shares in these companies
GuruFocus’ All-in-One Screener confirms the high business predictability ratings for the following stocks, and at least five gurus are shareholders in those companies. Read more...
Brookfield Asset Management Announces Results of Conversion of Its Series 8 and Series 9 Preferred Shares

BROOKFIELD, NEWS--(Marketwired - Oct 18, 2016) - Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:NYSE:BAM)(EURONEXT:BAMA) ("Brookfield") today announced the results of the exercise of the conversion privilege for its Class A Preference Shares, Series 8 (the "Series 8 Preferred Shares") (TSX:BAM.PR.E) and its Class A Preference Shares, Series 9 (the "Series 9 Preferred Shares") (TSX:BAM.PR.G). Holders of the company's Series 8 Preferred Shares and Series 9 Preferred Shares had the right to exchange their shares for the other series effective November 1, 2016, if they submitted an election to convert their shares on or prior to October 18, 2016. Holders of 435,513 Series 8 Preferred Shares have elected to convert these shares into an equivalent number of Series 9 Preferred Shares, and holders of 1,262,704 Series 9 Preferred Shares have elected to convert these shares into an equivalent number of Series 8 Preferred Shares. These conversions will be effective on November 1, 2016. Following these conversions, there will be 2,479,585 Series 8 Preferred Shares and 5,519,415 Series 9 Preferred Shares issued and outstanding. The Series 8 Preferred Shares pay a monthly floating rate dividend based on the Prime Rate, adjusted to reflect the trading price of these shares. The most recent monthly dividend paid on these shares on October 12, 2016 reflected an annualized dividend rate of 2.70%. The Series 9 Preferred Shares pay a quarterly dividend which is reset every five years based on a percentage of the five-year rate offered on Government of Canada bonds at the time. As previously announced, the annual rate on the Series 9 Preferred Shares has been reset at 2.75% commencing with the dividend payable on February 1, 2017. Holders of the company's Series 8 and Series 9 Preferred Shares will again have the opportunity to convert their shares into the other series effective November 1, 2021 and every five years thereafter. The Series 8 and Series 9 Preferred Shares may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act. Brookfield Asset Management Inc. is a global alternative asset manager with approximately US$250 billion in assets under management. The company has more than a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. Brookfield offers a range of public and private investment products and services, and is co-listed on the New York, Toronto and Euronext stock exchanges under the symbol BAM, BAM.A and BAMA, respectively. For more information, please visit our website at www.brookfield.com.





Brookfield Asset Management Inc.
Suzanne Fleming
Communications & Media
(212) 417-2421
[email protected]
Brookfield Asset Management Inc.
Linda Northwood
Investor Relations
(416) 359-8647
[email protected]
www.brookfield.com




Read more...
These Guru-Led Stocks Consistently Beat the Market These guru-led stocks have beaten the S&P 500 over the past 10 years
A great way to achieve gains in line with the investing masters is to join them. Read more...
Brookfield Asset Management Announces Reset Dividend Rate on Its Series 9 Preferred Shares

BROOKFIELD, NEWS--(Marketwired - Oct 11, 2016) - Brookfield Asset Management Inc. (NYSE:NYSE:BAM)(TSX:BAM.A)(EURONEXT:BAMA) ("Brookfield") today announced that the dividend rate on its Class A Preference Shares, Series 9 (the "Series 9 Preferred Shares") (TSX:BAM.PR.G) for the five years commencing November 1, 2016 and ending October 31, 2021 will be 2.75% per annum. This dividend rate represents 357% of the interpolated yield, calculated as of October 11, 2016 at 10:00 a.m. (Toronto time), on the 0.75% Government of Canada bond due September 1, 2021 and the 2.75% Government of Canada bond due June 1, 2022. This dividend will be payable quarterly on the first day of February, May, August and November, commencing with the dividend payable on February 1, 2017. The implied yield on the Series 9 Preferred Shares based on the new fixed dividend rate that will apply for the five years commencing November 1, 2016 and today's closing price for the Series 9 Preferred Shares is approximately 4.63%.
The annual rate currently paid on the company's Series 9 Preferred Shares is 3.80%. The final quarterly dividend payable at this rate will be paid on November 1, 2016 to shareholders of record on October 15, 2016. Conversion Rights Holders of Brookfield's Series 9 Preferred Shares have the privilege to convert, at their option, all or part of their Series 9 Preferred Shares on a one-for-one basis into the company's Class A Preference Shares, Series 8 (the "Series 8 Preferred Shares") (TSX:BAM.PR.E) effective November 1, 2016. The deadline for exercising this conversion privilege is 5:00 p.m. (Toronto time) on October 18, 2016. Holders of the Series 9 Preferred Shares who do not elect to convert their shares by this date will retain their Series 9 Preferred Shares and will receive the reset fixed-rate dividend as described above.
Holders of Brookfield's Series 8 Preferred Shares also have the privilege to convert, at their option, all or part of their Series 8 Preferred Shares on a one-for-one basis into the company's Series 9 Preferred Shares effective November 1, 2016. The deadline for exercising this conversion privilege is 5:00 p.m. (Toronto time) on October 18, 2016. Holders of the Series 8 Preferred Shares who do not elect to convert their shares by this date will retain their Series 8 Preferred Shares and will continue to receive a floating-rate dividend based on the prime rate.
If, after the close of business on October 18, 2016, the company determines that there would be fewer than 500,000 Series 9 Preferred Shares outstanding after the conversion date, it will automatically convert all of the remaining shares of this issue into Series 8 Preferred Shares and return all Series 8 Preferred Shares submitted for conversion. Similarly if, after the close of business on October 18, 2016, the company determines that there would be fewer than 500,000 Series 8 Preferred Shares outstanding after the conversion date, it will automatically convert all of the remaining shares of this issue into Series 9 Preferred Shares and return all Series 9 Preferred Shares submitted for conversion. Holders of the company's Series 8 and Series 9 Preferred Shares will again have the opportunity to convert their shares into the other series on November 1, 2021 and every five years thereafter. Brookfield Asset Management Inc. is a global alternative asset manager with approximately US$250 billion in assets under management. The company has more than a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. Brookfield offers a range of public and private investment products and services, and is co-listed on the New York, Toronto and Euronext stock exchanges under the symbol BAM, BAM.A and BAMA, respectively. For more information, please visit our website at www.brookfield.com.





Suzanne Fleming
Communications & Media
Tel: (212) 417-2421
Email: [email protected]
Linda Northwood
Investor Relations
Tel: (416) 359-8647
Email: [email protected]




Read more...

Ratios

vs
industry
vs
history
PE Ratio 29.53
BAM's PE Ratio is ranked lower than
80% of the 1268 Companies
in the Global Real Estate - General industry.

( Industry Median: 13.24 vs. BAM: 29.53 )
Ranked among companies with meaningful PE Ratio only.
BAM' s PE Ratio Range Over the Past 10 Years
Min: 6.76  Med: 15.81 Max: 151.68
Current: 29.53
6.76
151.68
Forward PE Ratio 37.45
BAM's Forward PE Ratio is ranked lower than
94% of the 79 Companies
in the Global Real Estate - General industry.

( Industry Median: 16.23 vs. BAM: 37.45 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 29.53
BAM's PE Ratio without NRI is ranked lower than
79% of the 1272 Companies
in the Global Real Estate - General industry.

( Industry Median: 13.24 vs. BAM: 29.53 )
Ranked among companies with meaningful PE Ratio without NRI only.
BAM' s PE Ratio without NRI Range Over the Past 10 Years
Min: 6.76  Med: 15.68 Max: 164.37
Current: 29.53
6.76
164.37
Price-to-Owner-Earnings 29.67
BAM's Price-to-Owner-Earnings is ranked lower than
80% of the 762 Companies
in the Global Real Estate - General industry.

( Industry Median: 11.60 vs. BAM: 29.67 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
BAM' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 7.67  Med: 13.57 Max: 89.13
Current: 29.67
7.67
89.13
PB Ratio 1.65
BAM's PB Ratio is ranked lower than
71% of the 1507 Companies
in the Global Real Estate - General industry.

( Industry Median: 1.09 vs. BAM: 1.65 )
Ranked among companies with meaningful PB Ratio only.
BAM' s PB Ratio Range Over the Past 10 Years
Min: 0.85  Med: 1.49 Max: 9.07
Current: 1.65
0.85
9.07
PS Ratio 1.20
BAM's PS Ratio is ranked higher than
72% of the 1524 Companies
in the Global Real Estate - General industry.

( Industry Median: 2.95 vs. BAM: 1.20 )
Ranked among companies with meaningful PS Ratio only.
BAM' s PS Ratio Range Over the Past 10 Years
Min: 0.6  Med: 1.28 Max: 4.04
Current: 1.2
0.6
4.04
Price-to-Free-Cash-Flow 17.78
BAM's Price-to-Free-Cash-Flow is ranked lower than
64% of the 533 Companies
in the Global Real Estate - General industry.

( Industry Median: 14.11 vs. BAM: 17.78 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
BAM' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 9.96  Med: 21.05 Max: 41.32
Current: 17.78
9.96
41.32
Price-to-Operating-Cash-Flow 9.83
BAM's Price-to-Operating-Cash-Flow is ranked higher than
54% of the 744 Companies
in the Global Real Estate - General industry.

( Industry Median: 12.28 vs. BAM: 9.83 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
BAM' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 2.59  Med: 12.24 Max: 73.73
Current: 9.83
2.59
73.73
EV-to-EBIT 23.59
BAM's EV-to-EBIT is ranked lower than
74% of the 1341 Companies
in the Global Real Estate - General industry.

( Industry Median: 13.61 vs. BAM: 23.59 )
Ranked among companies with meaningful EV-to-EBIT only.
BAM' s EV-to-EBIT Range Over the Past 10 Years
Min: 2.1  Med: 12.8 Max: 24.2
Current: 23.59
2.1
24.2
EV-to-EBITDA 17.71
BAM's EV-to-EBITDA is ranked lower than
66% of the 1364 Companies
in the Global Real Estate - General industry.

( Industry Median: 12.90 vs. BAM: 17.71 )
Ranked among companies with meaningful EV-to-EBITDA only.
BAM' s EV-to-EBITDA Range Over the Past 10 Years
Min: 1.6  Med: 10.6 Max: 18.1
Current: 17.71
1.6
18.1
EV-to-Revenue 4.95
BAM's EV-to-Revenue is ranked lower than
52% of the 1547 Companies
in the Global Real Estate - General industry.

( Industry Median: 4.96 vs. BAM: 4.95 )
Ranked among companies with meaningful EV-to-Revenue only.
BAM' s EV-to-Revenue Range Over the Past 10 Years
Min: 0.6  Med: 4.55 Max: 8.7
Current: 4.95
0.6
8.7
PEG Ratio 2.49
BAM's PEG Ratio is ranked lower than
78% of the 520 Companies
in the Global Real Estate - General industry.

( Industry Median: 0.84 vs. BAM: 2.49 )
Ranked among companies with meaningful PEG Ratio only.
BAM' s PEG Ratio Range Over the Past 10 Years
Min: 0.25  Med: 1.09 Max: 8.27
Current: 2.49
0.25
8.27
Shiller PE Ratio 27.24
BAM's Shiller PE Ratio is ranked lower than
70% of the 370 Companies
in the Global Real Estate - General industry.

( Industry Median: 16.79 vs. BAM: 27.24 )
Ranked among companies with meaningful Shiller PE Ratio only.
BAM' s Shiller PE Ratio Range Over the Past 10 Years
Min: 12.9  Med: 22.36 Max: 39.88
Current: 27.24
12.9
39.88
Current Ratio 1.31
BAM's Current Ratio is ranked lower than
61% of the 1588 Companies
in the Global Real Estate - General industry.

( Industry Median: 1.82 vs. BAM: 1.31 )
Ranked among companies with meaningful Current Ratio only.
BAM' s Current Ratio Range Over the Past 10 Years
Min: 0.16  Med: 1.57 Max: 8.33
Current: 1.31
0.16
8.33
Quick Ratio 1.02
BAM's Quick Ratio is ranked higher than
52% of the 1588 Companies
in the Global Real Estate - General industry.

( Industry Median: 1.17 vs. BAM: 1.02 )
Ranked among companies with meaningful Quick Ratio only.
BAM' s Quick Ratio Range Over the Past 10 Years
Min: 0.16  Med: 1.43 Max: 8.33
Current: 1.02
0.16
8.33
Days Inventory 97.39
BAM's Days Inventory is ranked lower than
58% of the 1004 Companies
in the Global Real Estate - General industry.

( Industry Median: 50.33 vs. BAM: 97.39 )
Ranked among companies with meaningful Days Inventory only.
BAM' s Days Inventory Range Over the Past 10 Years
Min: 14.99  Med: 142.74 Max: 181.19
Current: 97.39
14.99
181.19
Days Sales Outstanding 133.36
BAM's Days Sales Outstanding is ranked lower than
86% of the 1027 Companies
in the Global Real Estate - General industry.

( Industry Median: 22.65 vs. BAM: 133.36 )
Ranked among companies with meaningful Days Sales Outstanding only.
BAM' s Days Sales Outstanding Range Over the Past 10 Years
Min: 55.04  Med: 87.51 Max: 278.9
Current: 133.36
55.04
278.9
Days Payable 270.15
BAM's Days Payable is ranked higher than
86% of the 849 Companies
in the Global Real Estate - General industry.

( Industry Median: 70.74 vs. BAM: 270.15 )
Ranked among companies with meaningful Days Payable only.
BAM' s Days Payable Range Over the Past 10 Years
Min: 124.18  Med: 163.09 Max: 744.72
Current: 270.15
124.18
744.72

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 1.36
BAM's Dividend Yield % is ranked lower than
75% of the 1455 Companies
in the Global Real Estate - General industry.

( Industry Median: 2.74 vs. BAM: 1.36 )
Ranked among companies with meaningful Dividend Yield % only.
BAM' s Dividend Yield % Range Over the Past 10 Years
Min: 1.06  Med: 1.56 Max: 4.22
Current: 1.36
1.06
4.22
Dividend Payout Ratio 0.42
BAM's Dividend Payout Ratio is ranked higher than
85% of the 862 Companies
in the Global Real Estate - General industry.

( Industry Median: 0.28 vs. BAM: 0.42 )
Ranked among companies with meaningful Dividend Payout Ratio only.
BAM' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.15  Med: 0.25 Max: 0.73
Current: 0.42
0.15
0.73
3-Year Dividend Growth Rate 18.40
BAM's 3-Year Dividend Growth Rate is ranked higher than
74% of the 631 Companies
in the Global Real Estate - General industry.

( Industry Median: 4.50 vs. BAM: 18.40 )
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
BAM' s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: 0  Med: 2.65 Max: 27.3
Current: 18.4
0
27.3
Forward Dividend Yield % 1.38
BAM's Forward Dividend Yield % is ranked lower than
77% of the 1349 Companies
in the Global Real Estate - General industry.

( Industry Median: 2.97 vs. BAM: 1.38 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 2.88
BAM's 5-Year Yield-on-Cost % is ranked lower than
52% of the 1888 Companies
in the Global Real Estate - General industry.

( Industry Median: 3.13 vs. BAM: 2.88 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
BAM' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 2.27  Med: 3.33 Max: 9.02
Current: 2.88
2.27
9.02
3-Year Average Share Buyback Ratio -2.20
BAM's 3-Year Average Share Buyback Ratio is ranked higher than
59% of the 852 Companies
in the Global Real Estate - General industry.

( Industry Median: -3.80 vs. BAM: -2.20 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
BAM' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -3  Med: -0.2 Max: 1.7
Current: -2.2
-3
1.7

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 11.64
BAM's Price-to-Tangible-Book is ranked lower than
86% of the 1475 Companies
in the Global Real Estate - General industry.

( Industry Median: 1.11 vs. BAM: 11.64 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
BAM' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.71  Med: 2.12 Max: 11.91
Current: 11.64
0.71
11.91
Price-to-Intrinsic-Value-Projected-FCF 1.18
BAM's Price-to-Intrinsic-Value-Projected-FCF is ranked higher than
51% of the 762 Companies
in the Global Real Estate - General industry.

( Industry Median: 1.29 vs. BAM: 1.18 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
BAM' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 1.15  Med: 1.89 Max: 11.46
Current: 1.18
1.15
11.46
Price-to-Intrinsic-Value-DCF (Earnings Based) 1.57
BAM's Price-to-Intrinsic-Value-DCF (Earnings Based) is ranked lower than
81% of the 84 Companies
in the Global Real Estate - General industry.

( Industry Median: 0.74 vs. BAM: 1.57 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-DCF (Earnings Based) only.
BAM' s Price-to-Intrinsic-Value-DCF (Earnings Based) Range Over the Past 10 Years
Min: 0.3  Med: 0.88 Max: 12.65
Current: 1.57
0.3
12.65
Price-to-Median-PS-Value 0.93
BAM's Price-to-Median-PS-Value is ranked lower than
51% of the 1402 Companies
in the Global Real Estate - General industry.

( Industry Median: 1.05 vs. BAM: 0.93 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
BAM' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.27  Med: 1.15 Max: 4.61
Current: 0.93
0.27
4.61
Price-to-Peter-Lynch-Fair-Value 2.52
BAM's Price-to-Peter-Lynch-Fair-Value is ranked lower than
89% of the 332 Companies
in the Global Real Estate - General industry.

( Industry Median: 0.73 vs. BAM: 2.52 )
Ranked among companies with meaningful Price-to-Peter-Lynch-Fair-Value only.
BAM' s Price-to-Peter-Lynch-Fair-Value Range Over the Past 10 Years
Min: 0.31  Med: 1.04 Max: 22.89
Current: 2.52
0.31
22.89
Price-to-Graham-Number 3.91
BAM's Price-to-Graham-Number is ranked lower than
85% of the 1153 Companies
in the Global Real Estate - General industry.

( Industry Median: 0.82 vs. BAM: 3.91 )
Ranked among companies with meaningful Price-to-Graham-Number only.
BAM' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.47  Med: 1.11 Max: 14.18
Current: 3.91
0.47
14.18
Earnings Yield (Greenblatt) % 4.22
BAM's Earnings Yield (Greenblatt) % is ranked lower than
61% of the 1610 Companies
in the Global Real Estate - General industry.

( Industry Median: 5.93 vs. BAM: 4.22 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
BAM' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 4.1  Med: 7.8 Max: 46.7
Current: 4.22
4.1
46.7
Forward Rate of Return (Yacktman) % 14.24
BAM's Forward Rate of Return (Yacktman) % is ranked higher than
63% of the 757 Companies
in the Global Real Estate - General industry.

( Industry Median: 6.81 vs. BAM: 14.24 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
BAM' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -23.2  Med: 8.3 Max: 48.8
Current: 14.24
-23.2
48.8

More Statistics

Revenue (TTM) (Mil) $30,637.00
EPS (TTM) $ 1.28
Beta1.24
Short Percentage of Float0.00%
52-Week Range $32.04 - 40.93
Shares Outstanding (Mil)958.66

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 21,903 23,073 25,400
EPS ($) 0.39 1.09 1.84
EPS without NRI ($) 0.39 1.09 1.84
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($)

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