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Brookfield Asset Management to redeem preferreds via new offering
By Tali Rackner
Norfolk, Va., March 6 - Brookfield Asset Management Inc. plans to redeem all of its series 12 class A preferred shares with the proceeds from a series 38 preferred share offering, according to a news release.
The preferreds will be redeemed at C$26 per share plus accrued dividends on April 6.
Proceeds will also be used for general corporate purposes.
Toronto-based Brookfield is a publicly owned asset management holding company.
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