Home / Business and Economy / Brookfield Buys Australian Plumbing Giant RWC
Brookfield Buys Australian Plumbing Giant RWC
18 Aug
Summary
- Brookfield Asset Management is acquiring Reliance Worldwide Corp.
- The deal values the Australian plumbing company at A$4.1 billion.
- Reliance investors will receive A$4.75 cash per share.
Brookfield Asset Management has reached an agreement to acquire Reliance Worldwide Corp., a prominent Australian plumbing supplies company.
This acquisition is valued at approximately A$4.1 billion (US$2.9 billion).
Investors in Reliance Worldwide are set to receive A$4.75 in cash for every share they own. This offer includes a 32% premium compared to the company's closing price on Monday, signaling a lucrative exit for shareholders.
The transaction marks a significant move by Brookfield in the industrial sector, further expanding its portfolio.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
