Brookfield Ringgit & Malaysian investor answers

BROOKFIELD Asset Management wooed over Malaysia's Selangor Properties to sell its stake in Multiplex for $A94.36 million.

Selangor will sell its 2.2% stake for $5.05 per security, after it purchased its interests for $75.98 million between December 2003 and April 2004.

As at August 03, Brookfield owns 31.50% of voting power in Multiplex.

Brookfield’s offer remains conditional upon a number of items, most notably achieving more than 50.1% ownership of Multiplex.

If Brookfield achieves 90% of Multiplex’s securities, it will have the right to compulsorily acquire the remaining securities from non-accepting parties.

The closing date of acceptance is August 30 2007 or any date to which the offer is extended.

Australian Property Journal