Brookfield PE to reduce NAP stake in $75 mln secondary deal
North American Palladium Ltd (TSX: PDL) (NAP), a Toronto-based palladium producer, announced a secondary bought deal offering of about 5.8 million common shares at a price of $13 per unit. The offering, which will generate $75 million in proceeds, not including the greenshoe option, is being made on behalf of the private equity group of Brookfield Asset Management, NAP's majority shareholder. Upon completion, but prior to the exercise of the greenshoe option, Brookfield's interest in the company will be reduced to about 81 percent from 91 percent. NAP was recapitalized by Brookfield in 2015.
8 April 2019•3 mins read
