Brookfield expresses interest in Multiplex

The mystery over who is interested in taking over Multiplex has ended with the news that it is Brookfield Asset Management.

Brookfield has stepped forward with a formal approach and it wants the job lot rather than just parts of Multiplex.

A formal statement from Multiplex said that Brookfield is interested in 100% of Multiplex - the construction division being one of four main elements within the group.

Multiplex's other three business streams are property development, property fund management and facilities management.

Brookfield has asked for permission to enter discussions with RFN (Roberts Family Nominees) which holds 26% of all Multiplex shares.

The Multiplex board has granted this wish. As a result, all members of the Roberts family have stepped down from their active roles within Multiplex to avoid conflicts of interest.

Ross McDiven, currently the chief operating officer, and finance officer Bob McKinnon have stepped forward, acting as joint managing directors.

Brookfield is listed on both the New York and Toronto stock exchanges.

It is a global asset manager, based in Vancouver, Canada, and has a focus on property, power and infrastructure. The value of its assets under management runs to £25bn.

Brookfield has said that any proposal it puts forward will be conditional on the involvement of RFN.

[Contract Journal, 7th Feburary 2007, p 3]