UPDATE 1-Canada's Brookfield halts sale of Australian coal port due to coronavirus - sources [Reuters (UK)]
Brookfield Asset Management Inc Class A Limited Voting Shares (BAM)
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Source: Reuters
Canada's Brookfield halts sale of Australian coal port due to coronavirus: sources - Reuters 3 Min Read SYDNEY (Reuters) - Canada’s Brookfield Asset Management ( BAMa.TO ) has put the $2 billion sale or potential listing of its coal export terminal in Australia on hold due to travel restrictions amid the spread of coronavirus, two sources said. Running a sale and listing process had become impossible given travel bans due to the global outbreak, the sources said, declining to be identified because they were not allowed to talk to the media. The decision makes the Dalrymple Bay Coal Terminal (DBCT) the largest and most high profile corporate transaction in Australia to fall victim to the volatile financial market conditions sparked by the epidemic. The dual track process, which also includes the prospect of an initial public offering (IPO), could be restarted in the middle of the year with the aim of a transaction in the third quarter, according to one source with direct knowledge of
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