Brookfield Asset Management To Establish Global Facilities Management Business

(RTTNews) - Brookfield Asset Management Inc. (BAM) announced Friday that it has reached an agreement to acquire the other 50% of its Canadian and Australian facilities management businesses from Johnson Controls Inc. (JCI) for about US$200 million. With the termination of its joint venture agreements with Johnson Controls, Brookfield will immediately launch its facilities management businesses in scale in the United States and Europe, building on client relationships across its 340 million square feet property portfolio.

This acquisition will facilitate a merger with its wholly owned businesses in the Middle-East and South America as part of a broader plan to create the leading global facilities management business.