Replies to post #139 on Brookfield Asset Management Inc (BAM)

[bar1080]

'The good, the bad, and the flat out ugly.' but only on that board could a quote from a sec document be deleted >>> though matt restored it after my enquiry

[Investorman]

UPDATE 1-Brookfield Asset's profit slumps on depreciation
Fri Nov 2, 2007 9:02am EDT
(In U.S. dollars unless noted)

TORONTO, Nov 2 (Reuters) - Brookfield Asset Management (BAMa.TO: Quote, Profile, Research) (BAM.N: Quote, Profile, Research) said on Friday its third-quarter profit dropped by a sharp 62 percent due to depreciation on newly acquired assets.

Brookfield earned $93 million, or 13 cents a share, in the quarter ended Sept. 30, down from a profit of $245 million, or 40 cents a share, a year earlier.

Depreciation in newly acquired assets crimped income by $76 million in the quarter, the company said.

Profits were also hurt by lower output at its power generation operations amid abnormally low water conditions, continued weakness in the U.S. housing market, and an industry strike in the Canadian coastal forest products sector, Brookfield said.

Cash flow from operations, a closely watched measure by real estate firms, slipped to $321 million, or 52 cents a share, from $368 million, or 60 cents a share.

Still, Brookfield said it was on target to achieve its highest-ever yearly cash flow.

Revenue at Brookfield, an asset manager with interests in real estate and power generation, grew to $2.219 billion from $1.405 billion.

The company declared a dividend of 12 cents per class A common share, payable on Feb. 29, 2008, as well as the regular monthly and quarterly dividends on its preferred shares.

Brookfield closed the sale of its shares in Stelco Inc to U.S. Steel Corp (X.N: Quote, Profile, Research) on Oct 31. The company said it realized proceeds of nearly eight times its original investment and expects to record a pretax gain of about $250 million in the fourth quarter of 2007.

The company said it will also record a substantial gain of about $160 million in the fourth quarter from the initial public offering of the major Brazilian stock exchange, Bovespa, in which it owned seats which were converted to shares.

[Investorman]

Brookfield Asset Management to Acquire Hydroelectric Facility in Brazil
Friday December 21, 2:49 pm ET


Generating capacity to increase by over 50%


TORONTO, ONTARIO and RIO DE JANEIRO, BRAZIL--(MARKET WIRE)--Dec 21, 2007 -- Brookfield Asset Management Inc. (Toronto:BAM.TO - News)(NYSE:BAM - News) announced today that it has agreed to acquire 99.22% of the common shares and 100% of the Series C preferred shares in Itiquira Energetica S.A., from NRG Energy Inc. for US$288 million. The purchase is being made through Brookfield's wholly-owned subsidiary Brookfield Power.
Itiquira Energetica owns a 156 MW hydroelectric generating facility in Brazil. Located on the Itiquira River in Mato Grosso State, this facility significantly increases Brookfield's renewable energy footprint in Brazil ( from 295 MW to 451 MW. All the power produced by the facility is sold under a long-term contract expiring in 2014.

"The addition of the Itiquira facility to our renewable power portfolio is truly a noteworthy event for our operations in Brazil," commented Richard Legault, Managing Partner of Brookfield Asset Management and Co-CEO of Brookfield Power. "In addition to building on our 100-plus years of successfully owning and operating hydroelectric facilities in Brazil, the Itiquira facility also expands our operating presence in Mato Grosso State, where we will own and operate three hydroelectric facilities with a generating capacity of almost 200 MW."

With the Itiquira facility, Brookfield's power operations in Brazil will have an operating portfolio of 28 hydroelectric generating stations, mainly in the South, Southeast and Midwest regions of the country. The company has another six hydroelectric facilities under construction totaling almost 150 MW and a pipeline of hydroelectric development opportunities of over 700 MW.

The transaction completion is subject to receipt of regulatory approval and other customary closing conditions and is expected to close in the first quarter of 2008.

A Fact Sheet is available in the News section of the Brookfield Asset Management website (www.brookfield.com) or by clicking on (http://www.brookfield.com/newsroom/pressreleases/r2007/r2007-12-21.asp).

[Investorman]

Brookfield Asset Management Sets Record Date for Spin-Off of Brookfield Infrastructure Partners
Thursday January 3, 8:29 am ET


TORONTO, ONTARIO--(MARKET WIRE)--Jan 3, 2008 -- Brookfield Asset Management Inc. (Toronto:BAM.TO - News)(NYSE:BAM - News) ("Brookfield") today announced that its Board of Directors has set January 14, 2008 as the record date for the previously announced spin-off of a newly created publicly-traded partnership named Brookfield Infrastructure Partners L.P. ("the Partnership", and together with its related entities, "Brookfield Infrastructure"). The spin-off will be implemented by way of a special dividend of a 60% interest in Brookfield Infrastructure to holders of Brookfield's Class A and Class B limited voting shares as of the record date. Each holder of Brookfield shares on the record date will receive one unit of the Partnership for each 25 Brookfield shares held. The special dividend will be subject to applicable withholding tax, and cash will be distributed in lieu of fractional units.
"We remain focused on enhancing shareholder value and building out each of our operating platforms to enable us to achieve our long-term goals," said Bruce Flatt, Chief Executive Officer of Brookfield Asset Management. "The spin-off of Brookfield Infrastructure Partners is another step in this direction, as it will provide investors with an attractive, focused infrastructure vehicle, facilitating access to the capital markets to fund our infrastructure growth plans."

Initially, Brookfield Infrastructure will own interests in five high-quality electricity transmission and timber operations in North America, Chile and Brazil. Going forward, Brookfield Infrastructure will serve as the primary vehicle through which Brookfield will own and operate certain infrastructure assets on a global basis. Brookfield Infrastructure will focus on high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. Brookfield Infrastructure will seek acquisition opportunities where Brookfield's operations-oriented approach can be deployed to add value.

The Partnership's initial quarterly distribution has been set at $0.265 per unit and will be pro-rated for the period between the spin-off and the record date for the distribution. The first distribution will be payable on March 31, 2008 to unitholders of record on February 29, 2008.

The Partnership's units are scheduled to begin trading on January 31, 2008 on the New York Stock Exchange under the ticker symbol BIP. A copy of the final Canadian prospectus and U.S. registration statement, which describes the business and operations of Brookfield Infrastructure and various other relevant matters, including risk factors relating to its operations, may be obtained through the websites for EDGAR and SEDAR: www.sec.gov/edgar.shtml and www.sedar.com, respectively. We urge all shareholders of Brookfield Asset Management to read the Canadian prospectus and U.S. information statement fully.

Brookfield Asset Management Inc. focuses on property, power and infrastructure assets. The company has approximately $90 billion of assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM. For more information, please visit Brookfield's web site at www.brookfield.com.