Brookfield has emerged as the winner in the auction for smart metering business IntelliHub.
Brookfield has acquired a 50 per cent stake in smart metering business Intellihub, beating rival potential acquirers including BlackRock, MorrisonThe Canadaian asset manager will now be a 50-50 joint venture partner with Pacific Private Equity.
Brookfield is understood to have paid $1 billion for the 50 per cent stake in Intellihub, whose enterprise value is understood to be north of $3 billion and equity value at about $2 billion. Concurrent to the transaction, Intellihub is acquiring embedded network meters of Origin and some network meters held by WINConnect.Origin this morning said it would pay $42.4 million to buy it.It bought Swiss smart metering maker Landis + Gyr’s 20 per cent stake, while the rest of its position came from PEP realising some of its investment via its Secure Assets Fund. Both Landis + Gyr and PEP joined the Intellihub shareholder register in May 2018.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Steph Curry leads Golden State Warriors to first win over Celtics since 2019The Golden State Warriors end their five-match NBA losing streak to the Boston Celtics, thanks to another strong performance from Stephen Curry.
Read more »
Melbourne Victory stays top, City jump into third after A-League Women's winsMelbourne Victory's championship title defence continues apace after a 3-2 defeat of Brisbane, while City jump into the top four after 3-1 over Adelaide.
Read more »
Aussie moguls star Anthony wins World Cup double in preparation for Beijing Winter OlympicsAussie moguls star Jakara Anthony completes magnificent World Cup double at Alpe d'Huez on another successful day for Australia's Winter Olympians.
Read more »
Macarthur stays top of A-League Men table, Sydney records first winMacarthur FC fights back from a goal down with 10 players to deliver a backs-to-the-wall 2-1 win over the Newcastle Jets in the A-League Men competition.
Read more »
Morning mail: Sydney storm, second Test win in sight, 2021’s best Australian albumsMonday: Sydney’s northern beaches begin cleanup after freak storm. Plus: Guardian Australia music critics reveal their favourite albums of the year
Read more »
Wesfarmers issues Woolies warning to pharmacists as Priceline battle heats upWesfarmers has taken its campaign to win a takeover battle with Woolworths for the Priceline chain directly to pharmacists | domp
Read more »