Brookfield set to acquire World Freight Company in $1.2b deal: Sources
The firms have finalised discussions and a deal is expected to be announced as early as Thursday
Bruce Flatt, Chief Executive Officer of Brookfield Asset Management (BAM), poses in front of the company's logo in Tokyo, Japan, May 16, 2019. Photo: REUTERS/Hideyuki Sano
Brookfield Asset Management is set to acquire World Freight Company for an enterprise value of about $1.2 billion from investment firms EQT and PAI Partners, two people with knowledge of the matter said on Thursday.
The firms have finalised discussions and a deal is expected to be announced as early as Thursday, the sources said.
Brookfield and EQT declined to comment while PAI did not immediately respond to a Reuters request for comment.
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PAI and Baring Private Equity Asia (BPEA), which merged into Sweden-headquartered EQT in 2022, bought the cargo freight services provider in 2018 for an undisclosed amount and each owns 50%.
The deal was worth more than 600 million euros, Reuters reported at the time.
