Brookfield PE generates $91 mln from sale of WEF shares
The private equity group of Toronto-based Brookfield Asset Management has completed its previously-announced secondary offering of part of its investment in Western Forest Products Inc (TSX: WEF), a woodland operator and lumber producer. After selling a mix of non-voting and common shares at a price of $1.98 per share, Brookfield generated aggregate gross proceeds of over $91 million. With the close of the secondary transaction, Brookfield continued to hold 42% of issued and outstanding common shares in the business. The Vancouver-based Western Forest Products was established in 2004 as a result of Brookfield's acquisition of the bankrupt Doman Industries Ltd.
3 February 2014•4 mins read
