-Brookfield Infrastructure to raise $950 mln Thu Oct 22, 2009 10:51am EDT
* To issue $575 million of units to public
* Brookfield Asset to buy $375 mln in securities
* Offering to close by Nov. 6 (Figures in U.S. dollars)
OTTAWA, Oct 22 (Reuters) - Acquisition-hungry Brookfield Infrastructure Partners (BIP.N) (BIP_u.TO) said on Thursday it will raise $950 million in an offering it expects to close next month.
The company expects to issue about $575 million in limited partnership units to the public and grant underwriters an option to buy an additional 15 percent of the base offering.
Brookfield Asset Management Inc (BAMa.TO), which currently holds a 40 percent stake of Brookfield Infrastructure, said it plans to buy $375 million of securities concurrent with the offering to maintain it interest.
Pricing is expected to occur by Oct. 29 and the offering is seen closing by Nov. 6.
Brookfield Infrastructure said it seeks acquisitions in the assets and geographies where it is most familiar. The company owns and operates electricity transmission systems, timberlands and social infrastructure in North and South America, Britain and Australia. ($1=$1.05 Canadian) (Reporting by Susan Taylor)
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