Australia's Gateway Lifestyle receives $685 mln bid from Brookfield: Reuters
Canada’s Brookfield Asset Management launched a $685 million (US$515 million) bid for Australian retirement village owner Gateway Lifestyle Group this week, topping an earlier bid from Hometown America Corp and setting up a takeover tussle, Reuters reported. The North American pair are jostling for exposure to Australia’s wealthy and ageing population, as well as a real estate market that has until recently run strongly. Gateway shares hit their highest in a year in anticipation of a battle. Only Brookfield was granted due diligence.
21 June 2018•2 mins read
