Brookfield Infrastructure to fold BIPC, BIP into newly formed Brookfield Infrastructure Partners Inc. under arrangement deal
BIP•Brookfield Infrastructure to fold partnership structure into new holding company
Brookfield Infrastructure Partners is folding its partnership structure into newly formed Brookfield Infrastructure Partners Inc., which will become the new listed holding company.
- BIP unitholders receive 1 BIP Inc. Class A Share per BIP Unit, with an option for some holders to take part of the consideration as BIP Inc. Notes.
- Brookfield Infrastructure Corporation shareholders receive 1 BIP Inc. Class A Share per BIPC Share, subject to separate shareholder approval for the BIPC leg.
- BIP Inc. Class A Shares are expected to be listed on the NYSE and TSX, with the arrangement effective at 12:01 a.m. Vancouver time on the closing date.
- The agreement caps dissent elections at 5% of outstanding BIP Units and BIPC Shares in aggregate as a closing condition.
