Home / Business and Economy / Brookfield Buys Reliance for $2.9B
Brookfield Buys Reliance for $2.9B
16 Sep
Summary
- Brookfield Asset Management is acquiring Reliance Worldwide.
- The deal is an all-cash transaction valued at $2.9 billion.
- Reliance Worldwide is a manufacturer of plumbing supplies.
Brookfield Asset Management has entered into an agreement to acquire Reliance Worldwide. The transaction is structured as an all-cash deal, with the plumbing-supplies manufacturer valued at $2.9 billion.
This acquisition represents a significant investment by Brookfield in the manufacturing sector. Reliance Worldwide, known for its plumbing supplies, will now operate under Brookfield's ownership.
The deal is subject to customary closing conditions and regulatory approvals. Further details regarding the integration and future plans for Reliance Worldwide are anticipated following the completion of the acquisition.
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