Brookfield Infrastructure Announces Closing Date of Reorganization

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

The Arrangement will take effect before the markets open on December 24, 2024. Following the completion of the Arrangement, current shareholders of BIPC will automatically exchange their Class A exchangeable subordinate voting shares for new Class A exchangeable shares ("New Exchangeable Shares"). These New Exchangeable Shares will retain the same economic benefits and governance structure as investors currently enjoy with BIPC. They will also be listed on both the Toronto Stock Exchange and the New York Stock Exchange under the same ticker symbol "BIPC".

About Brookfield Infrastructure

Brookfield Infrastructure is a leading global company that owns and operates significant infrastructure assets, focusing on high-quality, long-life projects in the utilities, transport, midstream, and data sectors across regions including the Americas, Asia Pacific, and Europe. The company's strategy emphasizes assets with stable and predictable revenue streams, which contribute to consistent cash flow generation. Investors can access Brookfield Infrastructure's portfolio via Brookfield Infrastructure Partners L.P., a Bermuda-based limited partnership, or through Brookfield Infrastructure Corporation (BIPC), a Canadian corporation. For more information, visit this site.

Brookfield Infrastructure serves as the flagship publicly traded infrastructure entity under the umbrella of Brookfield Asset Management, a global alternative asset manager overseeing assets exceeding $1 trillion. More details are available at Brookfield Asset Management.

Cautionary Statements

This announcement includes forward-looking statements as defined by applicable securities regulations. Terms such as "will," "expect," and similar expressions are intended to identify these predictions of future events or trends. Forward-looking statements may include anticipated benefits of the Arrangement, expected closing dates, and details regarding the trading of New Exchangeable Shares on stock exchanges. Though BIP and BIPC regard these forward-looking statements as based on reasonable assumptions, readers are encouraged not to place excessive reliance on them due to the inherent risks and uncertainties involved. These include factors detailed in the documents filed by BIP and BIPC with securities regulators, which outline potential risks that could result in actual outcomes differing significantly from those envisioned in this announcement. BIP and BIPC do not undertake any obligation to publicly update or revise their forward-looking statements except as required by law.

Brookfield, Infrastructure, Reorganization