Brookfield completes $150 mln preferred equity investment in GrafTech
The private equity group of Brookfield Asset Management has completed its acquisition of US$150 million of convertible preferred shares of GrafTech International Ltd (NYSE: GTI), a U.S.-based producer of graphite material solutions for various industries and end markets, including steel manufacturing. The investment gives Brookfield a minority interest in the company, as well as two seats on the board of directors, one of which will be filled by Managing Partner Peter Gordon. As reported by peHUB Canada earlier this year, Brookfield has also proposed to buy all of GrafTech’s outstanding common shares. The US$840 million offer will expire this week.
12 August 2015•7 mins read
