Brief: Brookfield Infrastructure Acquires Triton International In $13.3 Bln Deal

Brookfield Infrastructure Partners LP

12/04/2023 12:35

April 12 (Reuters) - Brookfield Infrastructure Partners
LP  BIP.N :
    * TRITON INTERNATIONAL TO BE ACQUIRED BY BROOKFIELD
INFRASTRUCTURE
IN A $13.3 BILLION TAKE-PRIVATE TRANSACTION
    * TRITON INTERNATIONAL LTD - TRITON COMMON SHAREHOLDERS TO
RECEIVE
CONSIDERATION VALUED AT $85 PER SHARE
    * TRITON INTERNATIONAL LTD - CONSIDERATION INCLUDING $68.50
IN
CASH AND $16.50 IN CLASS A SHARES OF BROOKFIELD INFRASTRUCTURE
CORPORATION
    * TRITON INTERNATIONAL LTD - UPON CLOSING OF TRANSACTION,
TRITON'S
COMMON SHARES WILL BE DELISTED FROM NEW YORK STOCK EXCHANGE
    * TRITON INTERNATIONAL LTD - BROOKFIELD INFRASTRUCTURE
INTENDS TO
MAINTAIN TRITON'S EXISTING INVESTMENT GRADE CAPITAL STRUCTURE
    * TRITON INTERNATIONAL LTD - CASH AND STOCK TRANSACTION
VALUING
COMPANY'S COMMON EQUITY AT APPROXIMATELY $4.7 BILLION
    * TRITON INTERNATIONAL LTD - TRANSACTION HAS BEEN
UNANIMOUSLY
APPROVED AND RECOMMENDED BY THE BOARD OF DIRECTORS OF TRITON
    * TRITON INTERNATIONAL LTD - AT CLOSING, BIP'S EQUITY
INVESTMENT
IS EXPECTED TO BE ABOUT $1 BILLION, INCLUSIVE OF BIPC SHARES
    * TRITON INTERNATIONAL LTD - PRIOR TO CLOSING, TRITON
INTENDS TO
MAINTAIN ITS CURRENT QUARTERLY DIVIDEND ON TRITON COMMON SHARES
    * TRITON - SHAREHOLDERS WILL BE ABLE TO ELECT TO GET MIXED
CASH/STOCK CONSIDERATION DESCRIBED ABOVE, OR ALL-CASH OR
ALL-STOCK CONSIDERATION
    * TRITON - DEAL RECEIVED ALL REQUIRED APPROVALS FROM
BROOKFIELD
INFRASTRUCTURE, NOT SUBJECT TO FINANCING CONDITION, & NOT
SUBJECT TO APPROVAL FROM BIPC SHAREHOLDERS
    * TRITON INTERNATIONAL LTD - TRITON SHAREHOLDERS WILL
RECEIVE
0.390 BIPC SHARES FOR EACH TRITON SHARE IF BIPC FINAL STOCK
PRICE IS BELOW $42.36
    * TRITON INTERNATIONAL LTD - TRITON SHAREHOLDERS WILL
RECEIVE
0.335 BIPC SHARES FOR EACH TRITON SHARE IF BIPC FINAL STOCK
PRICE IS ABOVE $49.23

Source text for Eikon:  ID:nPncgRSdFa 
Further company coverage:  BIP.N 

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