Under the plan, company says will distribute a 25 per cent stake in the new company to its shareholders by the end of this year as a first step, while it will initially retain a 75 per cent interest.
Brookfield invests its own money as well as on behalf of clients, two businesses that it says are different in nature but work together well.
It says that while it believes that each of these businesses has potential to grow further that to achieve this growth they should now be separated, while preserving the benefits of their complementary nature and alignment.
The move came as Brookfield, which keeps its books in
Funds from operations totalled
This report by
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