Brookfield Infrastructure Completes Reorganization Approval

BROOKFIELD, News, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Brookfield Infrastructure Partners L.P. ("BIP") and Brookfield Infrastructure Corporation ("BIPC") (listed on both TSX and NYSE as BIPC) have announced that they have successfully obtained all necessary approvals from shareholders, courts, and regulatory bodies for the previously announced reorganization of BIPC, referred to as the Arrangement.

The Arrangement is set to take effect before the markets open on December 24, 2024. This means that BIPC shareholders will automatically receive new class A exchangeable shares ("New Exchangeable Shares") in exchange for their existing class A exchangeable subordinate voting shares. The new shares will offer the same economic benefits and governance rights that current BIPC shares provide.

New Share Listings

The New Exchangeable Shares will be listed on both the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol "BIPC". This process is expected to streamline the share structure and enhance the trading experience for investors.

About Brookfield Infrastructure

Brookfield Infrastructure is a prominent global infrastructure firm that specializes in owning and managing high-quality, long-lasting assets across various sectors such as utilities, transportation, midstream, and data infrastructure throughout the Americas, Asia Pacific, and Europe. The company's focus is on assets that generate steady and predictable cash flows through contracted and regulated revenue streams.

Investors can choose to access Brookfield Infrastructure's portfolio through either Brookfield Infrastructure Partners L.P. or Brookfield Infrastructure Corporation (NYSE, TSX: BIPC). More details can be found at the Brookfield Infrastructure website.

Brookfield Infrastructure serves as the primary publicly listed infrastructure entity for Brookfield Asset Management, a leading global alternative asset manager boasting over $1 trillion in assets under management. Further information is available at the Brookfield Asset Management website.

Future Outlook

It's important to note that this announcement includes forward-looking statements concerning BIP and BIPC. These statements relate to anticipated benefits of the Arrangement and projected timelines regarding the trading of New Exchangeable Shares. While the companies believe these projections are grounded in reasonable assumptions, readers are encouraged not to place excessive reliance on them, as actual outcomes may differ significantly due to various risks and uncertainties.

Risks that may affect the future performance of BIP and BIPC can be found in the documents filed by the companies with securities regulators, particularly under the section for "Risk Factors" in their most recent Annual Reports on Form 20-F. Both companies do not undertake any obligation to publicly update or revise any forward-looking statements, except as required by law.

Brookfield, Infrastructure, Reorganization